Indian Rupee Finished The Day at 95.38 against the US Dollar

Financial Market Overview

Indian Rupee

The Indian rupee closed at 95.38 on Friday in comparison to its previous 95.68 on Thursday. The Indian Rupee strengthened for the fourth consecutive session, with the USD/INR pair slipping to a two-week low near 95.30 due to a retreating US Dollar. This greenback weakness stemmed from market skepticism regarding the Federal Reserve's commitment to fighting inflation following cautious remarks from Fed Chair Kevin Warsh. However, further gains for the Rupee remain constrained by elevated crude oil prices driven by ongoing Middle East tensions. Investors are now shifting their focus toward the upcoming Reserve Bank of India policy decision on August 5, where the benchmark repurchase rate is widely expected to stay unchanged at 5.25%.

Indian Equities

At close, the Sensex was up 166.49 points or 0.21 percent at 78,094.64, and the Nifty was up 66.45 points or 0.27 percent at 24,383.60.

About 2444 shares advanced, 1607 shares declined, and 185 shares unchanged.

Bajaj Finance, Bajaj Finserv, Jio Financial, M&M and Adani Ports were the top gainers on the Nifty, while TCS, Eternal, Max Healthcare, Infosys and Wipro were among the top losers.

Global Market

Asian markets displayed mixed results. The Nikkei 225 rose 2,523.57 points to 64,391.00, while the Hang Seng rose 83.12 points to 25,942.00 and the Shanghai Composite rose 27.57 points to 3,832.26. Elsewhere, the KOSPI surged higher, rising 1,001.89 points to 6,595.45, and the Taiwan Weighted rose 3,186.45 points to 43,119.75.

European markets were mostly higher. The FTSE 100 rose 23.72 points to 10,920.99, and the CAC 40 rose 63.56 points to 8,549.20, while the DAX 40 rose 91.27 points to 25,703.30.

US futures traded mixed. Futures tied to the Dow Jones Industrial Average rose 267.60 points to 52,473.66. Meanwhile, S&P 500 futures gained 121.48 points to 7,437.63, and Nasdaq futures gained 681.81 points to 25,124.75.

The price of a barrel of Brent crude rose by 1.42 points to $88.30.