Markets down, rupee slips to 95.60 against US dollar
The escalation sent Brent crude prices up 1.7% to $94.7 per barrel, while Asian stocks plummeted 0.8%.
Indian share markets opened lower on Thursday amid simmering tensions in the West Asia conflict and a sharp spike in US inflation readings.
At 9.15 am IST, the BSE Sensex dropped 0.5% to 73,615.99, while Nifty 50 shed 0.48% to reach 23,104.4.
Rupee fell by 35 paise to 95.60 against the US dollar in early trade on Thursday.
On Wednesday, the currency rose to a high of 95.10. According to the traders, the climb of rupee was aided by dollar selling by state-run banks.
Later that day, the US launched a fresh wave of strikes on Iran, soon after President Donald Trump threatened to “hit them very hard” if no peace deal is finalised between Washington and Tehran. This triggered retaliatory attacks from Iran, which hit US military bases in the Gulf region and fired upon vessels on the Strait of Hormuz, which they had announced “closed” to all vessels
The escalation sent Brent crude prices up 1.7% to $94.7 per barrel, while Asian stocks plummeted 0.8%.
Indian share markets opened lower on Thursday amid simmering tensions in the West Asia conflict and a sharp spike in US inflation readings.
At 9.15 am IST, the BSE Sensex dropped 0.5% to 73,615.99, while Nifty 50 shed 0.48% to reach 23,104.4.
Rupee fell by 35 paise to 95.60 against the US dollar in early trade on Thursday.
On Wednesday, the currency rose to a high of 95.10. According to the traders, the climb of rupee was aided by dollar selling by state-run banks.
Later that day, the US launched a fresh wave of strikes on Iran, soon after President Donald Trump threatened to “hit them very hard” if no peace deal is finalised between Washington and Tehran. This triggered retaliatory attacks from Iran, which hit US military bases in the Gulf region and fired upon vessels on the Strait of Hormuz, which they had announced “closed” to all vessels
The escalation sent Brent crude prices up 1.7% to $94.7 per barrel, while Asian stocks plummeted 0.8%.
