A morning walk down D-St: Rising crude oil could be spoiler, appreciating rupee plays balancing act

It might not have been a photo finish to the truncated week but the good part is that we hit a record high and Nifty50 rose about 1 percent. The S&P BSE Sensex and Nifty50 rallied about 1 percent for the week ended April 18.

Indian markets witnessed profit booking as both Sensex and Nifty climbed fresh record highs in the morning trade before diving. 

The S&P BSE Sensex hit a record high of 39,487.45 while the Nifty50 rose to a life high of 11,856.15 in the early trade.

The only spoiler for the market is crude oil which is in its 7th-week of consecutive gains. Though appreciating rupee balances the sentiment for the equity market, suggest experts. 

The Indian rupee on April 19 staged a strong comeback by regaining 25 paise to 69.35 against the US dollar after three sessions of losses amid sustained foreign fund inflows.