Sensex, Nifty Set To Rally As Mideast Tensions Ease

(RTTNews) - Indian shares look set to open sharply higher on Thursday after the United States and Iran backed away from the brink of further conflict in the Middle East, sending oil prices tumbling overnight.

Brent crude futures rose around 0.8 percent in Asian trading after plunging 4.1 percent on Wednesday.

Meanwhile, the cabinet committee on parliamentary affairs has recommended holding the Budget session in two phases from January 31 to April 3, with the Union Budget to be presented on February 1.

Benchmark indexes Sensex and Nifty posted modest losses on Wednesday, while the rupee settled 12 paise higher at 71.70 against the U.S. dollar on expectations of inflows from external commercial borrowings and share sale.

Asian stocks are moving higher and the U.S. dollar changed hands in the lower 109 yen range while gold held steady after retreating from a near seven-year high in the previous session.
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