Sensex, Nifty close higher despite rupee hitting fresh record low

Key points

• Stock markets ended marginally higher on Wednesday, recovering from intraday weakness with support from heavyweights like Reliance Industries, even as a falling rupee, elevated crude oil prices and global uncertainty continued to keep investors cautious.
• The BSE Sensex rose 117.54 points, or 0.16%, to close at 75,318.39, while the NSE Nifty50 gained 41 points, or 0.17%, to settle at 23,659. Markets remained volatile through the session as investors tracked rising global bond yields, persistent tensions in West Asia and concerns around the impact of high oil prices on India’s economy.
• RUPEE HITS FRESH RECORD LOW One of the biggest concerns for Dalal Street remained the Indian rupee, which touched another lifetime low on Wednesday.
• The rupee slipped to 96.96 against the US dollar during the day before closing at 96.82. The currency has now weakened more than 6% since the Iran conflict began in late February.
• The fall in the...