The Indian rupee snapped its two-day winning streak, pressured by weakness in regional currencies and a rebound in commodity prices. Trading activity remained muted as market participants awaited the Reserve Bank of India’s interest rate decision on Friday.
New Delhi: Indian benchmark indices ended marginally higher in a volatile session on 4 February, as investors remained cautious amid mixed global cues.
At the close, the Sensex rose 78.56 points, or 0.09%, to 83,817.69, while the Nifty 50 gained 48.45 points, or 0.19%, to settle at 25,776.
The Indian rupee snapped its two-day winning streak, pressured by weakness in regional currencies and a rebound in commodity prices. Trading activity remained muted as market participants awaited the Reserve Bank of India’s interest rate decision on Friday.
On the technical front, the USD/INR pair continues to trade within a bullish channel on the weekly chart. Immediate support is seen at 90.05, while resistance is placed at 91.10. Analysts said the broader bullish trend remains intact as long as the pair holds above the 90 mark.
We wrap up today’s market coverage and will return tomorrow morning with the latest updates and alerts.
