Indian Rupee Finished The Day at 92.4200 against the US Dollar

Financial Market Overview

Indian Rupee

The Indian rupee closed at 92.4200 on Monday in comparison to its previous closing at 92.4550 on Friday evening. The Indian Rupee is trading near its all-time lows against the US Dollar, with the USD/INR pair hovering around record highs (recently touching levels like 92.47–92.58) amid heightened global risk aversion driven by the ongoing US-Iran war and surging oil prices toward triple-digit levels. This has bolstered the US Dollar's strength as a safe-haven currency, while reducing bets on imminent Federal Reserve rate cuts—especially ahead of the upcoming FOMC meeting on March 17-18, where rates are expected to stay unchanged, though some officials may dissent for easing, and projections could show lower growth but higher inflation forecasts with the median dot plot likely holding at one cut by year-end. Structurally, the INR remains in a bearish trend versus the USD, with prolonged conflict likely sustaining upward pressure on the pair toward new peaks; however, any short-term de-escalation could offer a temporary boost to the rupee, presenting a potential dip-buying opportunity in USD/INR as the broader uptrend persists.

Indian Equities

At close, the Sensex was up 938.93 points or 1.26 percent at 75,502.85, and the Nifty was up 257.70 points or 1.11 percent at 23,408.80.

About 1410 shares advanced, 2772 shares declined, and 157 shares unchanged.

Biggest Nifty gainers included M&M, Grasim Industries, Trent, UltraTech Cement, HDFC Bank, while losers were Bharat Electronics, Wipro, Max Healthcare, Sun Pharma, Coal India.

Global Market

Asian market traded mixed as follows:  Hong Kong’s Hang Seng was up by 349.40 points at 25,815.00, the Nikkei 225 was down by 113.61 points at 53,706.00, and China’s Shanghai Composite was down by 10.66 points at 4,084.79.

European markets traded negative as follows: the French CAC 40 increased by 13.97 points at 7,925.50. The DAX increased by 150.41 points at 23,597.70 and FTSE was up by 65.27 points to 10,326.42.

Stock futures rose on Monday as Wall Street tried to recover from another losing week, with investors monitoring oil prices and the latest developments from the U.S.-Iran war.Dow Jones Industrial Average futures added 366 points, or 0.8%. S&P 500 futures rose 1%, and Nasdaq-100 futures gained 1.1%.

The price of a barrel of Brent crude decreased by 0.09 points to $103.05.