Sensex Gains 400 pts At Open, Nifty Above 17,400; Key Points

Sensex Today: Indian markets opened in the green on Tuesday morning amid mixed global cues. At 09:16 IST, the Sensex was up 411.68 points or 0.71 per cent at 58384.30, and the Nifty was up 134.90 points or 0.78 per cent at 17447.80.

Rupee

The rupee on Monday depreciated 7 paise to close at 79.91 against the American dollar due to risk aversion in the global markets and a strong greenback overseas after hawkish comments from the US Federal Reserve.

Global Cues

Asian markets were mixed Tuesday with confidence at a premium as traders contemplate the prospect of more Federal Reserve interest rate hikes and a possible recession.

Tokyo stocks opened higher on Tuesday, rebounding from sharp sell-offs in the previous session following US Fed chief Jerome Powell’s pledge to “forcefully” battle inflation. The benchmark Nikkei 225 index was up 0.63 per cent, or 176.57 points, at 28,055.53 yen in early trade, while the broader Topix index was up 0.58 per cent, or 11.31 points, at 1,955.41.

US stocks closed lower on Monday, adding to last week’s sharp losses on nagging concerns about the Federal Reserve’s determination to aggressively hike interest rates to fight inflation even as the economy slows.

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