Indian Rupee Finished The Day at 94.5250

The Indian rupee closed at 94.5250 on Wednesday in comparison to its previous at at 94.555 on Tuesday evening. The Indian Rupee experienced a slight decline against the US Dollar on Wednesday, partially reversing previous gains as traders exercised caution ahead of the upcoming Federal Reserve meeting, where steady interest rates and a cautious policy outlook are anticipated. While broader global risk sentiment remains weighed down by geopolitical tensions, the Rupee’s losses were tempered by a decline in global crude oil prices, which slid for a fifth consecutive session amid expectations of a potential US-Iran supply deal. Technically, the USD/INR pair is trading near 94.40, hovering just above key support at 94.30 within a descending triangle pattern, as market participants monitor central bank interventions and shifting economic forecasts that now suggest a small surplus in India’s balance of payments.

Nifty above 24,050, Sensex gains 347 pts led by metal, PSU Bank, capital goods

Among the Nifty constituents, Trent, Bharat Electronics (BEL), Hindalco Industries, Eternal and Tata Steel emerged as the top gainers. On the other hand, Tata Motors Passenger Vehicles, Cipla, Bajaj Finserv, ONGC and Axis Bank ended among the major losers.

Indian equity markets maintained their upward momentum for the fourth consecutive session, with the Nifty closing at 24,085.70 and the Sensex rising 347.14 points to settle at 77,155.62. This positive trend was largely driven by robust buying in the capital goods, metal, power, and PSU bank sectors, bolstered by optimism surrounding a potential US-Iran peace deal that helped anchor crude oil prices below $78 per barrel. While the broader market, including midcap and smallcap indices, outperformed the frontline benchmarks, the auto and realty sectors experienced minor profit-taking. Investors remain focused on the upcoming US Federal Reserve policy meeting and commentary from new Chair Kevin Warsh