Equities performed strongly during the day. The Sensex gained about 410 points and the Nifty crossed 24,700, supported largely by banks and metal counters. State Bank of India rose more than 1 percent, while IndusInd Bank and Kotak Mahindra also recorded healthy gains.
Market watchers say the rupee is likely to remain stable around 88 in the short term, with equity inflows and the Reserve Bank’s presence in the background helping to prevent sharp swings. However, unresolved tariff issues remain a concern and could weigh on the currency in the weeks ahead.
On the equities side, investor confidence in financials and metals reflects optimism about domestic growth, though global factors such as oil prices and trade developments will continue to set the tone.