Stock Market Today Live Updates: Sensex, Nifty open in green

The Indian rupee opened 2 paise stronger at 83.44 against the US dollar. The Indian currency had closed at 83.50 against the US currency. Forex traders said the rupee remains under pressure due to ongoing elections as well as foreign fund outflows, as per a PTI report.

Crude oil prices extended gains from the previous session on signs of stronger demand in the US where data showed slower inflation than markets expected. Brent futures rose 35 cents, or 0.4 per cent, to $83.10 a barrel while US West Texas Intermediate crude (WTI) gained 40 cents, or 0.5 per cent, to $79.03.

Earlier, US indices closed with gains after lighter-than-expected inflation readings propelled the major averages. Dow Jones Industrial Average (DJIA) closed just 100 points away from 40,000 mark. Tech heavy NASDAQ closed 230 pts higher to 16,742.39 while S&P 500 breached 5,300 mark for the first time.

“A more tamed read for US April inflation and a far weaker-than-expected read in US retail sales seem to offer room for the Fed to consider earlier rate cuts, with market expectations leaning more firmly for policy easing to kickstart in September this year,” said IG market strategist Yeap Jun Rong, as reported by Reuters.