Indian Rupee Finished The Day at 94.82

The Indian rupee closed at 94.8175 on Thursday in comparison to its previous closing 94.46 on Wednesday evening. Driven by foreign dollar inflows from the Jio Platforms IPO, central bank market interventions, and profit-taking in the broader US dollar, the Indian rupee has appreciated for eight consecutive sessions to close at a six-week high of 94.47 per dollar, marking its longest rally since December 2018. To support the currency and curb spot dollar demand, the Reserve Bank of India implemented strategic measures alongside direct dollar sales, which helped counteract pressure from rising Brent crude oil prices triggered by West Asia tensions. However, despite gaining 2.45 per cent over this eight-day streak, financial analysts project potential medium-term pressure on the domestic currency due to India's current account deficit, higher inflation relative to peers, and the central bank's net short position in the foreign exchange forward market.

At close, the Sensex was down 460.30 points or 0.62 percent at 73,249.39, and the Nifty was down 123.70 points or 0.54 percent at 22,687.65.

About 1323 shares advanced, 2670 shares declined, and 155 shares unchanged.

Biggest Nifty losers were Nestle India, Tata Motors Passenger Vehicles, HDFC Life, Tech Mahindra, Reliance Industries, while gainers included Bajaj Finance, Cipla, SBI, Bajaj Auto and ICICI Bank.

Indian equity benchmark indices, the BSE Sensex and NSE Nifty, extended their downward trend for a third consecutive session due to rising crude oil prices and heightened inflation concerns. The Sensex fell by 460 points (0.6%) to close at lower levels, while the Nifty dropped 124 points (0.5%) to stay below 22,700. Broader markets also faced selling pressure, with the Midcap and SmallCap indices dropping 0.7% and 0.9% respectively, and IT and power sectors seeing notable declines while healthcare remained a rare positive spot. Key market gainers included Bajaj Finance, ICICI Bank, and Sun Pharma, whereas Eternal, HDFC Bank, and Trent were among the top laggards. Alongside broader market trends, individual corporate earnings came into focus: International Gemological Institute Limited (IGIL) delivered strong Q2 FY27 results with a 43% year-on-year increase in PAT to Rs 1.85 billion and a 31% surge in operational revenue. Conversely, Adani Green Energy posted a mixed quarterly performance, reporting a 24% quarter-on-quarter drop in consolidated net profit to Rs 7.47 billion despite achieving a 16% year-on-year growth and expanding its installed capacity.