Market Close: Rupee Flat, Nifty Falls On Profit Booking

India’s financial markets closed Tuesday with mixed signals. The rupee remained stable against the US dollar, reflecting balanced demand and supply in foreign exchange markets. Meanwhile, equities faced selling pressure, with the Nifty 50 slipping below the 25,900 mark amid cautious sentiment ahead of key macroeconomic announcements.  

Key highlights from the announcement include  

• The Indian rupee ended at 89.22 per US dollar, nearly unchanged from 89.23 in the previous session.  
• Currency markets showed resilience despite global dollar strength and crude oil volatility.  
• The Nifty 50 index provisionally closed at 25,883.90, down 0.38% or 75.60 points.  
• Weakness was led by IT and energy stocks, while select PSU banks and metals cushioned losses.  
• Investor sentiment remained cautious ahead of RBI’s upcoming policy review and global interest rate signals.  
• Market participants noted expiry-linked positioning as an additional factor in intraday volatility.  
• Analysts expect near-term direction to hinge on foreign inflows and domestic inflation data.  

The day’s close highlights the divergence between currency stability and equity weakness. While the rupee held firm, equities reflected investor caution, underscoring the importance of upcoming policy cues in shaping near-term market trends.  

Sources: NSE India, Economic Times Markets, Business Standard