Crude Oil Price Fall Lifts Indian Market Cues

Asian markets traded lower on Wednesday morning, following US futures, which were also down. However, Indian market cues were positive due to a sharp fall in crude oil prices.

The West Texas Intermediate (WTI) crude futures fell by 2% to trade at $80.72 per barrel, while Brent crude futures were trading 2.22% lower around $86.61.

According to the GIFT Nifty, Indian markets are expected to open higher today, up 45 points or 0.18%. The positive cues from the domestic market come despite global peers trading on a lower note.

On Tuesday, the US stock market closed on a higher note due to falling yields and oil prices. The broader index gained 0.32% to close at 7,677.28.