Rupee Weakens as Nifty 50 Ends Lower Amid Market Uncertainty

The Indian rupee depreciated by 0.3% to 85.64 against the US dollar, reflecting broader market volatility. Meanwhile, the Nifty 50 index provisionally closed 0.93% lower, weighed down by global economic concerns and investor caution.  

Currency Movement and Market Trends  
- The rupee opened weaker at 85.48, snapping a two-day winning streak, before settling at 85.64 against the dollar  
- Analysts attribute the decline to a lack of major domestic triggers and global currency fluctuations  
- The dollar index remained under pressure due to concerns over US fiscal policies and Moody’s recent downgrade of US debt  

Stock Market Performance  
- The Nifty 50 index saw a sharp decline, driven by profit booking and weak global cues  
- Investors remained cautious ahead of key economic data releases and central bank policy updates  
- Sectors such as banking and IT witnessed selling pressure, contributing to the overall market downturn  

Future Outlook and Investor Sentiment  
- Market experts anticipate continued volatility as global economic uncertainties persist  
- The rupee is expected to trade within a stable range, with potential support from foreign institutional inflows  
- Investors are closely monitoring upcoming policy decisions and macroeconomic indicators for further direction  

Sources: Economic Times, Business Standard, Bloomberg.

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