Sensex, Nifty Reverse After Rs 10 Lakh Crore Wipeout as Rupee Jumps, Iran Oil Fears Linger
Indian shares swung back from a sharp opening selloff on Thursday to finish slightly higher after Reserve Bank of India action triggered the rupee’s biggest one-day jump since 2013, softening a market shock set off by fresh U.S. threats against Iran. The Sensex rose 0.25% to 73,319.55 and the Nifty 50 gained 0.15% to 22,713.10 after both fell more than 2% intraday, though both still logged a sixth straight weekly decline in the holiday-shortened week. The reversal did not change the main risk. For India’s energy-importing economy, Brent crude near $109 a barrel and March factory growth at a near four-year low sharpen worries over inflation, margins and growth after U.S. President Donald Trump said Washington would keep up attacks on Iran without offering a clear end point.
