Equity

The Indian rupee is seen adding to recent streak of decline and pushing further near its all-time low levels in opening trades on Thursday amid escalating tensions in Middle East that is keeping oil prices elevated. The US reportedly launched another wave of strikes against Iran on Wednesday, expanding attacks on military targets along the country's southern coast. INR opened at Rs 96.28 per dollar and hit a low of 95.35 so far during the day amid volatility in global crude oil prices and a stronger greenback with the West Asia crisis showing no signs of abating. The counter is lingering around an 8-week low. FII outflows continued to weigh on the local unit while a positive start to the day at the domestic equity markets provided support. The Indian benchmark indices commenced on a positive note on Thursday, primarily led by strong gains in the Information Technology (IT) sector, following supportive cues from Wall Street. BSE Sensex is trading around 77,356.12 (up 170 points) and the NSE Nifty 50 is hovering at 24,125.05 (up 46 points) during early trading hours. Yesterday, the counter settled at 96.25 per dollar.

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