Indian Rupee Is Trading at 95.32 Against US Dollar

Financial Market Overview

Indian Rupee

On Thursday, the Indian rupee was trading at 95.3250 versus the US dollar. Despite a surge in oil prices driven by escalating military conflicts between the US and Iran following President Trump's termination of a recent memorandum of understanding, the Indian Rupee rebounded to open higher against a weakening US Dollar. The Greenback dipped even after hawkish FOMC minutes revealed that US policymakers still view inflation as a primary risk that may necessitate further economic tightening. Meanwhile, the Rupee continues to find support from sustained foreign capital inflows, as Foreign Institutional Investors (FIIs) have largely ignored the geopolitical turbulence, remaining net buyers and injecting nearly Rs. 3,954 crore into the Indian stock market over the last four trading sessions.

Indian Equities

Indian stock market demonstrated significant resilience and growth, with the Nifty50 surging past 24,000 and the Sensex gaining over 447 points to near 77,000. The positive momentum was largely driven by robust buying in consumer durables and automobile stocks, along with strong performances from heavyweights like Bharti Airtel and Sun Pharma, which successfully offset weakness in the IT sector and global uncertainties regarding US-Iran tensions. Broadening the rally, mid-cap and small-cap indices outperformed the primary benchmarks, signaling widespread investor confidence across various sectors. Concurrently, the primary market attracted considerable attention with new IPO launches from Laser Power & Infra, Devson Catalyst, and Happy Steels, alongside the ongoing subscription for the ?650-crore Kusumgar offer.

Global Market

Asian market traded mixed as follows: Hong Kong’s Hang Seng was down by 246.46 points at 23,953.00, the Nikkei 225 was up by 1,355.95 points at 68,175.00, and China’s Shanghai Composite was up by 65.71 points at 4,036.59.

The Mib is up 0.8% at 52,245.15, as is the Mid-Cap at 56,332.43, while the Small-Cap slips 0.2% to 35,645.56 and Italy Growth gains 0.1% at 8,408.01 points. The CAC 40 is up 0.3%, the DAX 40 by 0.2%, while the FTSE 100 falls 0.5%.

Stock futures fluctuated Wednesday night after a volatile session for U.S. equities. Futures tied to the Dow Jones Industrial Average managed a microscopic gain of 0.04%. S&P 500 futures lost 0.28%, while Nasdaq 100 futures edged up 0.20%.

The price of a barrel of Brent crude was down by 0.55 points to $77.47.