Indian Rupee Finished The Day at 91.9825 against the US Dollar

Financial Market Overview

Indian Rupee

The Indian rupee closed at 91.9825 on Friday in comparison to its previous closing at 91.9550 on Thursday evening. The USDINR pair is surging toward record highs, recently hitting 92.51 on Wednesday amid a weakening Indian Rupee driven by weak Asian risk sentiment, dollar buying tied to NDF maturities, chronic demand-supply imbalances, bullion imports, equity outflows, and slow exporter hedging. The pair hovers around 92.00–92.10, maintaining a bullish bias within an ascending channel on the daily chart, with the RSI near overbought levels signaling strong momentum; resistance looms at the recent peak of 92.51 (potentially targeting 93.60), while support sits at 92.00 and lower EMAs. This INR depreciation aligns with broader US Dollar strength, fueled by reaffirmed commitment to a strong dollar policy from Treasury Secretary Scott Bessent, speculation over President Trump's impending nomination of hawkish former Fed Governor Kevin Warsh as the next Federal Reserve Chair (to be announced soon), and the Fed's recent decision to hold rates steady amid resilient growth and elevated inflation. The RBI continues to act as a key backstop against breaches beyond psychological levels like 92.00, while economists anticipate no policy rate changes from 5.25% through 2026.

Indian Equities

At close, the Sensex was down 296.59 points or 0.36 percent at 82,269.78, and the Nifty was down 98.25 points or 0.39 percent at 25,320.65.

About 2319 shares advanced, 1716 shares declined, and 149 shares unchanged.

Hindalco, Tata Steel, Coal India, ONGC, ICICI Bank were among major losers on the Nifty, while gainers were Tata Consumer, Apollo Hospitals, Nestle, M&M, ITC.

Global Market

Asian market traded positive as follows: Hong Kong’s Hang Seng was down by 589.09 points at 27,379.00, the Nikkei 225 was up by 73.40 points at 53,449.00 and China’s Shanghai Composite was down by 40.03 points at 4,117.95.

European markets traded positive as follows: the French CAC 40 increased by 61.74 points at 8,133.10. The DAX increased by 284.04 points at 24,593.50 and FTSE was up by 48.29 points to 10,220.05.

Over on Wall Street, the S&P 500 index futures decreased by 35.25 points, reaching 6,957.50. Simultaneously, the Nasdaq 100 index futures decreased by 150.75 points, totaling 25,848.50 while the Dow Jones Industrial Average futures decreased by 180.00 points, reaching 48,990.00.

The price of a barrel of Brent crude decreased by 0.44 points to $69.15.