The rupee opened slightly higher against the US dollar on Thursday. At 09:06 AM, the rupee was trading at 70.94 a dollar, up 10 paise from its Wednesday’s close of 71.04. The home currency opened at 70.97 and touched a high and a low of 70.93 and 71.04 a dollar, respectively.
In the currency market, the dollar advanced as investors welcomed US President Donald Trump’s hints of progress toward a trade deal with China.
Trump on Wednesday stoked hopes for a trade deal by telling reporters in New York that the US and China were having “good conversations” and that an agreement “could happen sooner than you think”, reported Reuters.
The dollar index posted its sharpest daily gain in three months overnight and held steady in Asian trade.
In the commodity markets, oil prices edged higher in a sign of cautious optimism about global economic prospects.
US crude ticked up 0.27 percent to $56.64 a barrel, while Brent crude rose to 0.29 percent to $62.54 per barrel in a sign some investors anticipate higher demand for energy and fuel in the future due to stronger economic activity.
Foreign investors pulled out a net Rs 342.40 crore from Indian equities on Wednesday, according to exchange data.
In debt markets, the yields on the 10-year government bonds were up 0.22 percent at 6.77 percent from the previous close of 6.76 percent. Bond yields and prices move in opposite directions.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Prajwal Revanna's father in custody for alleged kidnapping and sexual abuse
May 4, 2024 7:53 PM
Delhi, Indore, Surat and Banswara — why these are the most challenging domains for Congress internally
May 4, 2024 1:53 PM
Congress nominee from Puri Lok Sabha seat withdraws, citing no funds from party
May 4, 2024 12:00 PM
Lok Sabha Polls '24 | Rahul Gandhi in Rae Bareli, why not Amethi
May 4, 2024 9:43 AM