Stock market live: India’s benchmark indices Sensex and Nifty opened in the green in the first trade of the May series. The BSE Sensex opened at 74,509.30, up 168.87 or 0.87 per cent, while the NSE Nifty opened at 22,620.40, up 50.10 inches or 0.22 per cent.
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International crude oil prices rose steadily as US officials expressed optimism about economic growth and supply concerns lingered due to conflicts in the Middle East. Brent crude oil futures rose 31 cents, or 0.4%, to $89.32 per barrel, and U.S. West Texas Intermediate crude oil futures rose 23 cents, or 0.3%, to $83.80 per barrel. For the week, Brent is up 2.3% and WTI is up 0.8% so far.
Indian government bond yields rose we Yields soared to new highs as expectations for interest rate cuts faded further. The benchmark 10-year Indian bond yield was 7.2203% as of 10am.
Asian markets fell, led by Japan’s Nikkei Stock Average, which hit a 34-year low in today’s trading. The Nikkei Stock Average was trading at 37,918.03, up 283.64 points or 0.75%.
Meanwhile, the US expected Thursday’s GDP data to be weaker than expected. Treasury Secretary Janet Yellen said after the announcement that the U.S. GDP growth rate for the first quarter could be revised upward. Yellen said U.S. economic growth was likely stronger than weaker-than-expected quarterly data suggested.
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