From mint · · 1m
Indian Shares Rise as Oil Falls, RBI Supports Rupee
Indian shares set to open higher after oil prices drop and RBI steps in to support rupee.
In brief
Indian shares set to open higher after oil prices drop and RBI steps in to support rupee. Indian shares are expected to rise as oil prices fall and the RBI implements measures to stabilize the rupee. Originally reported by mint.
Shares Set to Rise
Indian shares are set to open higher after snapping their longest weekly losing streak in 25 years.
Oil Prices Fall
Brent crude futures fell 1.6% to $103 a barrel after US President Donald Trump said Ukraine and Russia agreed to halt attacks on energy facilities.
RBI Supports Rupee
The Reserve Bank of India redirected oil companies' dollar purchases away from the spot market and tightened hedging rules to shore up the rupee.
Market Reaction
The Nifty and Sensex rose 0.4% and 0.8% last week, helped by financials' quarterly updates and Tata Consultancy Services' AI revenue growth.
What it means
Indian shares are expected to rise as oil prices fall and the RBI implements measures to stabilize the rupee.
