The Indian rupee opened marginally stronger at around Rs. 95.44 per US dollar on Thursday, supported by softer crude oil prices and continued intervention by the Reserve Bank of India. The currency had settled around Rs. 95.41 in the previous session.

Crude oil prices continued to fall on Thursday as investors assessed reports of discussions involving Iran and Qatar that could help reopen the Strait of Hormuz. Brent crude slipped to around $87.24 a barrel, extending its decline for a fourth consecutive session, while WTI fell to about $81.67.

Indian equities are expected to open sharply higher today after GIFT Nifty jumped around 220 points, signalling a strong start for the Nifty 50 and Sensex. The positive sentiment has been supported by a sharp decline in crude oil prices and gains across global markets.

The Indian rupee strengthened by around 33 paise to close at Rs. 95.41 against the US dollar on Tuesday, recovering from its previous close of Rs. 95.74. The gain came as crude oil prices declined sharply and the Reserve Bank of India stepped in through dollar sales to support the domestic currency.

The continuing conflict involving the US and Iran remains one of the biggest risks for global markets. The Strait of Hormuz is particularly important because disruptions to shipping through the waterway can quickly affect crude supplies, freight costs and insurance premiums.

India’s data-centre industry is entering a major expansion phase as artificial intelligence and cloud computing drive demand for computing infrastructure. Industry capacity has reportedly quadrupled, highlighting the rapid growth of India’s digital infrastructure ecosystem.

Indian equity markets are set for a cautious opening today, with GIFT Nifty indicating a decline of around 65 points early Tuesday. The weakness comes amid subdued global cues and continuing concerns over crude prices and geopolitical tensions.

Gold prices remain elevated as investors continue to seek protection amid geopolitical uncertainty and expectations surrounding US monetary policy. 24K gold was quoted around Rs. 1,63,490 per 10 grams, while silver remained around Rs. 2.45 lakh per kg in the latest reported Indian rates.

The US has intensified its economic campaign against Iran, announcing fresh sanctions and warning countries and businesses that continue dealing with Tehran that they could also face penalties. Washington has described the strategy as an attempt to place severe economic pressure on Iran.

Indian equities are likely to begin Monday with a mildly positive bias, although global markets remain cautious. GIFT Nifty was indicating a gain of around 47 points, while Asian markets were mostly weaker and US futures remained subdued.