Equity

The Indian rupee appreciated by 3 paise to close at 85.70 (provisional) against the US dollar on Wednesday following optimism over a possible trade deal with the US and a delay in the imposition of reciprocal tariffs. However, a firm US dollar in overseas markets and crude oil staying near USD 70 per barrel capped the gains in the local currency. At the interbank foreign exchange, the rupee opened weak at 85.84 against the US dollar, and traded in a range of 85.93 and 85.65 during the day. The local unit finally closed at 85.65 (provisional), up 6 paise from the previous close. Meanwhile, negative cues from local equities also dampened sentiments. Indian shares fell modestly on Wednesday. The benchmark S&P/BSE Sensex ended the session down 176.43 points, or 0.21 percent, at 83,536.08 while the broader NSE Nifty index dropped 46.40 points, or 0.18 percent, to 25,476.10. On the NSE< USDINR futures ended the day almost flat at 85.77.

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