Rupee opens strong, gains 40 paise vs US dollar in opening trade

Rupee opened strong in the early trade Wednesday, gaining 40 paise at 73.17 per US dollar versus 73.57 yesterday amid sharp fall in global crude oil prices.

Yesterday, ‘the partially convertible rupee plunged in the first half but surged in the second half after the fall in the oil prices. The 10-year bond yields were down 4 basis points at 7.85 percent.’

Sensex and Nifty Sensex and Nifty opened higher on Wednesday. The Sensex is up by 426.32 points or 1.26 percent at 34273.55, while the Nifty is up by 133.40 points or 1.31 percent at 10280.20.

Globally, the Asian stocks edged lower on Wednesday as concerns, ranging from worries about U.S. corporate earnings to Middle East tensions, weighed on sentiment while crude oil approached two-month lows after Saudi Arabia flagged possible supply increases.

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