The Indian stock market opened in the green on Tuesday, recovering from Monday’s losses after US President Donald Trump called off an imminent military strike on Iran. The BSE Sensex opened at 75,441.27 against its previous close of 75,315.04. The index extended gains in early trade and was up 286.81 points, or 0.38 per cent, at 75,601.85 around 9:30 am.
The NSE Nifty 50 also held firm in the morning session. The index opened at 23,675.30 compared to its previous close of 23,649.95. It was trading higher by 25.35 points, or 0.11 per cent, at 23,675.30 in early deals.
Shares of major oil marketing companies like HPCL, BPCL and IOC surged around 2 per cent minutes after the markets opened for trade today due to the fresh increase in oil prices.
The rise is seen as positive for OMCs, as it could help ease pressure on their margins amid elevated crude oil prices.
Meanwhile, the Reserve Bank of India is likely to have sold more US dollars to support the under-pressure rupee on Tuesday, which was hovering near its all-time low at the open, three traders said.
The rupee was currently trading at 96.32 per dollar on Tuesday, off a low of 96.3850 and near its all-time low of 96.3875 reached on Monday.
Also read: Crude oil prices drop to $109 in early trade
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