Rupee strengthens after oil drop and Nifty crosses 24,000
The rupee opened stronger at 94.45 against the dollar on Wednesday, thanks to a sharp fall in crude oil prices after the U.S.-Iran peace deal.
With oil dipping below $80 a barrel, worries about inflation and energy costs eased for India.
The stock market loved the news: Nifty crossed 24,000, and Sensex jumped over 130 points in early trade.
IT, defense and manufacturing boost markets
While markets rallied overall, some sectors stood out:
Infosys teamed up with Finland's Valmet to use AI for IT operations, Wipro launched a new AI center in Bengaluru,
Sona BLW approved an investment of ₹62.6 crore in robotics manufacturing, and Krishna Defence & Allied Industries bagged a ₹45.64 crore order from the Ministry of Defence.
Even with foreign investors pulling money out, these sector wins kept things upbeat.