The rise in the Indian stock market continued even today. At the start of the trading session, Sensex – the 30-share BSE sensitive index – opened 380 points higher at 78,339. At the same time, NSE’s 50-share index – Nifty – opened with a gain of 67 points at 24,398 points.
Asian market
On May 7, a tremendous rise is being seen in the Asian markets. Investors’ mood is bullish, due to expectations of a peace deal between the US and Iran and falling crude oil prices. In the Japanese stock market, the Nikkei 225 index rose more than 4% and – for the first time – passed the 62,000 mark. The Hang Seng index also showed strength, gaining between 1.2% and 1.3%. South Korea’s KOSPI index also rose 1.17%. However, the KOSDAQ index, which includes small-cap companies (*small-cap*), dropped 0.4%.
US stock market
US stock markets also closed higher on Wednesday, May 6, on hopes of a peace deal between the US and Iran and a decline in crude oil prices. During the session, the S&P 500 rose 1.46% to 7,365.12 points. The Nasdaq Composite closed at 25,838.94 points with a gain of 2.02%. Both indexes managed to reach new highs, and closed at record levels. The Dow Jones Industrial Average gained 612.34 points – or 1.24% – to close at 49,910.59.
crude oil
Following yesterday’s decline, West Texas Intermediate (WTI) crude oil futures are trading 1.24% higher at $96.23 per barrel today. Similarly, Brent crude oil futures are trading at $102.11 this morning, higher by 0.92%. On COMEX, crude oil prices rose 1.24% to $96.26 per barrel.
US dollar
The US Dollar Index (DXY) – which measures the value of the dollar against a basket of six major foreign currencies – rose 0.01% today to 98.05 points. This index measures the strength or weakness of the US dollar against the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. On May 6, the rupee strengthened 0.71% to close at 94.61 against the dollar.