Nifty 50 and Sensex rise around 0.5% as sectors rally
Monday started off strong for Indian stocks: Nifty 50 and Sensex both climbed around 0.5%, with all major sectors in the green.
Even small-cap and mid-cap shares saw a boost, so investors had reasons to smile.
Rupee slips to 94.42 versus US$
While the markets were upbeat, the rupee slipped to 94.42 rupees against the US dollar, losing nine paise in early trade on Monday.
This came after a brief recovery from its record low near 97 rupees.
Falling crude oil prices and progress in U.S.-Iran talks helped ease supply worries, offering some relief to emerging market currencies, but pressure on the rupee isn't gone yet.
Brent crude down 1.7% to $79.24
Brent crude dropped 1.7% to $79.24 per barrel as U.S.-Iran negotiations led to agreements on oil exports and asset releases.
These moves calmed global supply concerns for now, but currency markets—including India's—are still feeling some heat.