Indian Rupee Finished The Day at 94.9475 against the US Dollar

Financial Market Overview

Indian Rupee

The Indian rupee closed at 94.9475 on Friday in comparison to its previous closing 95.25 on Thursday evening. Indian Rupee (INR) has strengthened sharply against the US Dollar (USD), pushing the USD/INR pair below 95.00 despite rising global crude oil prices driven by Middle East tension and supply disruptions. Although higher energy import costs typically pressure the Rupee, strong local demand backed the currency's recovery. Concurrently, US 10-year Treasury yields stabilized near 4.93% after hitting a seven-week low of 4.89%, supported by stronger-than-expected US Q3 GDP growth of 3.4% and an elevated Core PCE price index rising 3.1% year-on-year in September. Technically, the USD/INR maintains a mildly bearish bias, hovering around 94.95 below its 20-day exponential moving average of 95.31, with immediate key downside support resting at 94.16.

Indian Equities

At close, the Sensex was up 308.49 points or 0.42 percent at 74,459.53, and the Nifty was up 116.35 points or 0.51 percent at 23,053.10.

About 1311 shares advanced, 2862 shares declined, and 170 shares unchanged.

Trent, Interglobe Aviation, HCL Technologies, Infosys, Sun Pharma were among top gainers on the Nifty, while losers were Adani Ports, Shriram Finance, Adani Enterprises, M&M, Coal India.

Global Market

Asian markets displayed a predominantly weak trend. The Nikkei 225 fell 1,589.47 points to 63,070.00, while the Hang Seng rose 341.35 points to 23,300.00, and the Shanghai Composite fell 52.41 points to 3,599.02. Elsewhere, the KOSPI fell 206.92 points to 5,730.74, and the Taiwan Weighted fell 1,156.50 points to 45,211.83.

European markets traded mixed. The FTSE 100 rose 4.97 points to 10,727.04, the CAC 40 fell 12.10 points to 7,957.90, and the DAX fell 223.68 points to 25,816.00.

US futures traded lower. Futures tied to the Dow Jones Industrial Average fell 48.70 points to 52,293.86. Meanwhile, S&P 500 futures fell 23.59 points to 7,720.39, and Nasdaq futures fell 376.40 points to 26,173.45.

The price of a barrel of Brent crude rose to $113.21.