In the pre-opening session on Thursday, benchmark indices Sensex and Nifty showed promising signs, driven by the performance of Gift Nifty and positive global cues. The Indian rupee also opened slightly stronger at 83.21 per dollar.
Asian shares rebound amidst improved sentiment
Asian shares experienced a rebound from their 11-month lows on Thursday, benefitting from a decline in oil prices and softer-than-expected US labor data. These factors contributed to improved market sentiment across the region.
Wall Street Posts Gains
On Wednesday, Wall Street witnessed gains as various stock indices closed higher. The positive performance in the US markets further contributed to the optimism in global markets.
Stabilising Crude Oil Prices
Crude oil prices stabilized after a significant one-day decline, reflecting signs of reduced demand and a decrease in concerns about a global economic slowdown. This stabilization in oil prices had a positive impact on financial markets.