Financial Market Overview

Indian Rupee

The Indian rupee closed at 85.6325 on Friday in comparison to its previous closing at 85.79 on Thursday evening. The Indian Rupee strengthened, despite a stronger dollar index and rising crude oil prices. This rebound followed a dip below the 86 mark on Wednesday, driven by foreign investor dollar demand. Despite this gain, the Rupee has been the worst-performing Asian currency this year, down about 0.4%, contrasting with gains seen by regional peers. Market attention is now focused on the Reserve Bank of India's Monetary Policy Committee meeting, which is expected to announce a 25 basis point repo rate cut on Friday, while the prospect of a US Federal Reserve rate cut in September has risen to 75% following slower hiring growth.

Indian Equities

The Nifty was up by 252.15 points at 25,003.05 while the Sensex was up by 746.95 points at 82,188.99.

2163 shares increased in value, 1712 shares decreased, and 127 shares were steady.

Today, big gainers were Eternal, Dr Reddy, Trent, PowerGrid, ICICI bank while losers were Induslnd Bank, Tata consumer, Axis Bank, Bajaj Finserv, Heromoto corp.

Global Market

Asian market finished in mixed territory as follows: Hong Kong’s Hang Seng was down by 114.43 points at 23,792.54, the Nikkei 225 was up by 187.12 points at 37,741.61 and China’s Shanghai composite is up 1.26 points at 3,385.36.

European markets traded negative as follows: the French CAC 40 decreased by 2.25 points at 7,788.02. The DAX decreased by 33.75 points at 24,289.83 and FTSE was up by 1.03 points to 8,812.07.

Over on Wall Street, the S&P 500 index futures increased by 23.75 points, reaching 5,969.75. Simultaneously, the Nasdaq 100 index futures increased by 91.25 points, totaling 21,673.50 while the Dow Jones Industrial Average futures increased by 134.00 points, reaching 42,503.00.

The price of a barrel of Brent crude decreased by 0.06 points to $65.28.