Indian Markets End Lower As Rupee Holds Steady Against Dollar

India’s financial markets witnessed volatility on Friday, with the rupee holding steady while equities faced sharp declines. The Indian rupee closed at 90.64 per US dollar, marginally weaker compared to its previous close of 90.59, indicating stability despite global currency fluctuations.  

On the equities front, the Nifty 50 index provisionally ended 1.35% lower, slipping below the 25,550 mark. The decline was led by heavy selling in IT and metal stocks, with Infosys and Hindalco among the top losers. Market breadth remained weak as all sectoral indices closed in the red.  

Analysts attribute the downturn to global uncertainties, profit booking, and concerns over AI-driven disruption in technology stocks. Despite the sell-off, experts suggest that India’s long-term fundamentals remain intact, though short-term volatility is expected to persist.  

Key highlights from the announcement include  

• Indian rupee closed at 90.64 per US dollar at 3:30 p.m. IST  
• Currency movement remained stable compared to previous close of 90.59  
• Nifty 50 index provisionally ended 1.35% lower  
• IT and metal sectors led the decline, Infosys down over 6%  
• Market sentiment weakened amid global and domestic uncertainties  

Sources: Reuters, Reserve Bank of India, Economic Times, Business Standard