Indian Rupee Finished The Day at 95.7050 against the US Dollar

Financial Market Overview

Indian Rupee

The Indian rupee closed at 95.705 on Wednesday in comparison to its previous at 95.265 on Tuesday evening. The Indian Rupee experienced a sharp decline against the US Dollar on Wednesday, trading near 95.78, driven primarily by a surge in oil prices following renewed geopolitical tensions in the Middle East and consistent selling by foreign institutional investors. With FIIs offloading significant assets over the first two days of June, market sentiment remains cautious as India, a major energy importer, faces pressure from rising global fuel costs. Additionally, investors are closely monitoring the upcoming Reserve Bank of India policy announcement on Friday, where the repo rate is widely expected to remain steady, while simultaneously bracing for Q1 GDP data that is projected to reflect a slowdown to 7.2 percent.

Indian Equities

At close, the Sensex was down 303.67 points or 0.41 percent at 74,346.17, and the Nifty was down 77.95 points or 0.33 percent at 23,405.60.

About 1714 shares advanced, 2318 shares declined, and 167 shares unchanged.

TCS, Tech Mahindra, HCL Technologies, Infosys, and Wipro leading the declines on the Nifty, while gainers were Apollo Hospitals, Max Healthcare, Tata Motors Passenger Vehicles, SBI, and ICICI Bank.

Global Market

Asian markets displayed mixed results today. The Nikkei 225 jumped 2.89% to 68,718.00, while the Shanghai Composite increased 0.22% to 4,083.97. Hong Kong’s Hang Seng fell 1.61% to close at 25,626.00.

European indices traded mostly lower during afternoon sessions. The German DAX declined to 24,809.50, while the French CAC 40 fell to 8,177.10. The FTSE 100 moved lower by 0.34% to 10,337.82.

U.S. stock futures show mixed performance. Dow Jones Futures fell to 51,164.76, while S&P 500 and Nasdaq futures moved higher by 0.13% and 0.03% respectively.

Brent Crude prices settled at 98.02 dollars per barrel.