Indian Rupee Holds Steady At 90.68; Nifty 50 Ends Higher

India’s financial markets witnessed a steady session on Wednesday, with the rupee holding firm against the US dollar and equities posting modest gains. The rupee closed at 90.68 per dollar, almost flat compared to its previous close of 90.6725, signaling stability in foreign exchange markets despite global volatility.  

On the equities front, the Nifty 50 index provisionally ended 0.31% higher, supported by buying interest in banking, IT, and consumer stocks. Analysts suggest that investor sentiment remains buoyed by expectations of steady corporate earnings and resilience in domestic demand.  

Key highlights from the market update include  

• Indian rupee closes at 90.68 per US dollar, nearly unchanged from 90.6725  
• Currency stability reflects balanced foreign exchange market conditions  
• Nifty 50 index provisionally ends 0.31% higher  
• Gains led by banking, IT, and consumer sectors  
• Investor sentiment supported by strong domestic demand and earnings outlook  

Market experts note that while the rupee’s stability provides comfort to importers and exporters, equity gains highlight investor confidence in India’s economic fundamentals. The combination of a steady currency and positive stock market momentum underscores resilience in the country’s financial landscape.  

Sources: Economic Times, Business Standard, Moneycontrol