Sensex and Nifty50 open higher as oil jumps to $110
Despite crude oil prices shooting up to $110 a barrel after the UAE announced it would exit OPEC, India's Sensex and Nifty50 opened strong on Wednesday.
By 9:30am Sensex was up 363 points at 77,250, and Nifty50 rose by 120 points to 24,115.
Dr VK Vijayakumar from Geojit Investments noted that while this could push oil prices higher in the medium term, India shouldn't expect quick relief with U.S.-Iran tensions still in play.
Maruti Suzuki jumps, investors eye Fed
Maruti Suzuki led today's gains with a solid 4.3% jump, followed by ITC and Mahindra & Mahindra.
Tata Steel slipped the most among major stocks.
Investors are keeping an eye on political updates as state elections wrap up and are waiting for signals from the US Federal Reserve, especially with oil price swings after the UAE announced it would exit OPEC.