Indian Rupee Finished The Day at 95.555

The Indian rupee closed at 95.555 on Wednesday in comparison to its previous 94.9675 on Tuesday. The Indian Rupee has experienced an accelerated decline against the US dollar, driven by a sharp rise in oil prices following heightened geopolitical tensions between the United States and Iran. Market sentiment soured after US officials abandoned a memorandum of understanding with Iran, prompting fears of further escalation in the Strait of Hormuz and contributing to a hawkish repricing of Federal Reserve interest rate expectations. Technically, the USD/INR pair is trending upward, with traders closely monitoring the resistance level at 96.10 while the market awaits further cues from upcoming FOMC meeting minutes and US jobless claims data.

At close, the Sensex was down 1,677.12 points or 2.15 percent at 76,503.60, and the Nifty was down 516.65 points or 2.12 percent at 23,882.05.

About 1023 shares advanced, 3070 shares declined, and 159 shares unchanged.

Biggest Nifty losers were Jio Financial, Interglobe Aviation, Shriram Finance, Maruti Suzuki, HUL, while gainers included ONGC, Hindalco Industries, Coal India and Bajaj Auto.

Indian equity markets experienced a sharp downturn on July 8, 2026, as geopolitical tensions escalated following United States President Donald Trump's announcement that the ceasefire with Iran had ended. This declaration triggered a widespread selloff, causing the Nifty to plunge over 2 percent to close below 23,900 and the Sensex to drop 1,677 points. The negative sentiment, compounded by a significant spike in crude oil prices, a weakening rupee, and rising bond yields, forced investors into a risk-off mode, leaving all major sectoral indices in the red and causing the India VIX volatility index to surge nearly 25 percent.