Indian stock market staged a sharp recovery, with Sensex and Nifty erasing morning losses to snap a four-session losing streak, led by a strong surge in IT stocks including heavyweight TCS, Infosys, HCL Tech and Tech Mahindra.

Sensex jumped 383 points to close at 74,650, while Nifty 50 gained 101 points to end the session at 23,484. This came as India VIX, which measures volatility in markets, tumbled more than 7% to 15.32.

TCS shares rallied nearly 7% to lead gains on Sensex, while Infosys shares jumped more than 5%. HCL Technologies shares meanwhile surged over 4%. On the other hand, NTPC, Axis Bank, Power Grid, Bajaj Finserv and others fell up to 3% to lead losses.

The optimism was broad-based, with Nifty Midcap 100 and Nifty Smallcap 100 indices also closing in the green. Sectorally, Nifty IT led gains with a 4% jump. Nifty Pharma meanwhile fell around 1%. Nearly 2,034 stocks advanced on NSE, while 1,285 declined and 107 remained unchanged.

“Markets recovered from initial losses, led by gains in the IT sector, while continued accumulation in large-cap stocks reflected comfort with valuations, as the Nifty 50 trades closer to its long-term averages than the relatively richer valuations in broader markets,” said Vinod Nair, Head of Research, Geojit Investments. He added that despite ongoing delays in a Middle East truce, global sentiment remained stable, highlighting resilience in risk appetite. With the earnings season largely concluded, investor focus has shifted to key macro factors including monsoon progress, inflation trends, RBI policy, and liquidity conditions, he added.

“The monsoon is expected to advance into southern regions this week, providing near-term sentiment support. While rainfall is projected to be below the long-period average and emerging El Nino risks warrant monitoring, healthy reservoir levels, well above the 10-year average, offer a cushion against potential shortfalls,” according to Nair.

The sharp optimism on Dalal Street came as global stocks rallied, buoyed by fresh AI optimism after Anthropic moved towards a US stock market listing, while oil prices and bond yields fell on renewed hopes of a US-Iran deal. Brent crude futures dropped more than 1% to $94 a barrel after US President Donald Trump said talks with Iran were ongoing.Anthropic on Monday said it has confidentially filed for a US initial public offering.. Google parent Alphabet is also seeking to raise $80 billion in equity to fund the expansion of its AI infrastructure.

Foreign investors meanwhile remained net sellers of Indian equities, net selling shares worth nearly Rs 3,912 crore on Dalal Street on Monday. This came after a massive Rs 22,102 crore selloff in just one session on May 29.

Notably, South Korea’s equity market has overtaken India’s as the world’s sixth largest, driven by a relentless surge in chip heavyweights powering the global artificial intelligence buildout.

(With inputs from agencies)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Benchmark indices Sensex and Nifty ended the Tuesday session sharply lower, dragged by a fall in bank, oil and gas, and pharma stocks. Investor sentiment reversed from Monday after the U.S. carried out strikes in southern Iran, reviving concerns over a prolonged conflict in the Middle East.

The 30-share Sensex ended at 76,010, down around 479 points or 0.63%, while the Nifty50 closed at 23,933, lower by 98 points or 0.41%. Among the top laggards were HDFC Bank, Trent, TCS, Bharti Airtel, Axis Bank, and Titan Company. Gainers included Tech Mahindra, Eternal, Maruti Suzuki, and HUL.

Broader markets outperformed frontline indices with the Nifty Midcap 100 and Smallcap 100 indices gaining 0.5% and 0.35%, respectively.

Expert views

Vinod Nair of Geojit Investments said that near-term optimism surrounding a potential U.S.–Iran peace deal faded sharply after U.S. military operations in southern Iran. According to him, the development triggered a spike in crude oil prices and reversed the rupee’s brief appreciation. He noted that the monthly F&O expiry further intensified technical selling pressure in an already risk-off environment, leading domestic equities to end lower.

Nair added that with crude oil prices still lower on a weekly basis, markets continue to factor in a meaningful probability of de-escalation in West Asia.

Global markets

U.S. stock index futures climbed to fresh record highs on Tuesday as investors remained optimistic about ongoing Middle East peace negotiations despite recent military strikes, while continued AI-driven momentum in chip stocks further supported sentiment. Futures linked to the Dow Jones rose 0.48%, while S&P 500 and Nasdaq futures gained 0.52% and 0.77%, respectively.

U.S. Secretary of State Marco Rubio said on Tuesday that negotiations with Iran could take “a few days,” while U.S. President Donald Trump said in a Truth Social post on Monday that discussions with Iran were progressing “nicely.”European markets, however, traded mixed on Tuesday, easing slightly after recent gains as rising oil prices and renewed U.S. strikes in southern Iran dampened hopes of an imminent peace agreement between the U.S. and Iran.

The STOXX Europe 600 slipped 0.2%, though it remained close to its highest level since the start of the conflict. Britain’s FTSE 100 advanced 0.7%, while Germany’s DAX fell 0.7%. The MSCI World Equity Index was largely flat on the day but remained up 3.8% for the month so far.

In Asia, Japan’s Nikkei 225 ended 0.25% lower at 64,996.09 after surging 2.87% on Monday to close above the 65,000 mark for the first time, driven by optimism around artificial intelligence-linked stocks. The index has gained 8.95% over the last three sessions, marking its steepest three-day rally in more than six years. Japan’s broader Topix index edged down 0.1% to close at 3,938.46.

Meanwhile, South Korea’s KOSPI continued to benefit from strong technology sector momentum, rising 2.6% to hit a fresh record high.

Crude impact

Brent crude futures neared $100 again after prices rose nearly 4% to extend gains from morning. The surge came after the U.S. military launched strikes in southern Iran, describing the action as defensive in nature. The developments kept markets tense as hopes of a deal to end the ongoing conflict remained uncertain.

The U.S. Central Command said it had carried out strikes on targets in southern Iran, including boats allegedly attempting to lay mines and missile launch sites. According to the military, the strikes were aimed at protecting U.S. troops from threats posed by Iranian forces.

Rupee vs Dollar

The Indian rupee weakened 0.47% to close at 95.68 against the U.S. dollar as of 3:30 p.m. IST on Tuesday, compared with its previous close of 95.23.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Indian benchmark indices Sensex and Nifty erased most of their morning gains to close only marginally higher in the green on Wednesday as a fall in heavyweights Reliance Industries and others weighed.

At close, Sensex was up a little over 50 points at 82,276. This marks a fall of around 682 points from its intraday high of 82,958, which it had hit in the morning amid strong buying in IT stocks. Nifty 50 ended the session around 58 points higher at 25,482, after falling over 170 points from its day’s high of 25,653.

Today’s gains were led by metals, with the Nifty Metal index rising 2.7%. IT stocks, which had surged sharply in the morning, also pared partial gains by the end of the session.

The Nifty IT index closed 1.57% higher, while the auto and pharma indices gained 1.85% each. FMCG, PSU Banks, realty, along with oil & gas indices, however, closed in the red.

Top gainers and losers

HCLTech shares were the top gainers on Sensex, rising nearly 3%. Tata Steel, Tata Consultancy Services (TCS), IndiGo, Sun Pharma and Mahindra & Mahindra (M&M) followed, rising around 2% each.

Heavyweight Reliance Industries (RIL) led losses, falling more than 2% and dragging down the index sharply. State Bank of India (SBI), Adani Ports, Zomato-parent Eternal and others followed.

Notably, today’s rise comes a day after the stock markets crashed, led by a selloff in IT shares. Broader markets also closed in the green today, with Nifty Smallcap 100 and Nifty Midcap 100 index rising 0.94% and 0.58% respectively.

Global markets

Indian stock markets have accompanied global peers in gains today. South Korea’s Kospi gained nearly 2%, while Japan’s Nikkei was up more than 2%. Hang Seng gained 0.66%, and China’s Shanghai Composite was up 0.72%.

In Europe, UK’s FTSE 100 rose around 1%, while France’s CAC and Germany’s DAX gained nearly 0.4% and 0.35%, respectively, as seen at 3.50 pm.

Currency Watch

Rupee ended almost flat against the US dollar on Wednesday. The Indian currency closed at $90.9475 against the dollar, nearly unchanged from its previous closing price of $90.95. This came as the dollar index also remained unchanged at 97.8.

Crude impact

Crude oil prices are hovering near seven-month highs amid rising worries of a possible military conflict between the US and Iran that would potentially disrupt supply. Additionally, US President Donald Trump, during his Union speech address, said he would not allow a country, which he called the world’s biggest sponsor of terrorism, to have a nuclear weapon, further supporting oil prices.

Brent futures rose 6 cents to $70.83 ‌per barrel, while. WTI ⁠futures rose 4 cents to $65.67 per barrel.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

India’s heartbeat indices rebounded from day’s lows to finish the session on a high note. In a volatile session, IT stocks were major laggards, though broad-based buying trends held the markets firm. While Nifty ended at 25,571.25, gaining 116.90 points or 0.46%, the BSE Sensex settled 316.57 points or 0.38% higher at 82,814.71.

The market capitalisation of BSE-listed companies grew by Rs 1.74 lakh crore today.

Top Gainers & Losers

The Nifty breadth tilted in favour of bulls with 36 stocks ending the session in the green, while the remaining 14 were in the red. The top gainers were Hindalco Industries, NTPC, Larsen & Toubro (L&T), SBI Life and Hindustan Unilever (HUL), while the losers included recently listed Kwality Wall’s (India), Eternal, Infosys, Tech Mahindra and Grasim Industries.

Individually, Larsen & Toubro (L&T) and Reliance Industries (RIL) contributed most to the gains in Nifty and Sensex by virtue of their weights.

Sector-wise, PSU Banks remained the top gainers with Nifty PSU Banks closing 1.7% higher. Nifty Bank, Nifty Auto and Nifty FMCG were other big movers. Meanwhile, Nifty IT settle 1% lower. Select media stocks like Zee, Network18, and Nazara Technologies also witnessed selling pressure.

Expert View

Vinod Nair, Head of Research at Geojit Investments, said Indian equities rebounded after yesterday’s sharp correction, led by strong buying in large caps as investors favoured their better risk‑reward over premium‑valued midcaps.

“Sentiment improved on clearer trade‑agreement signals and India’s entry into Pax Silica, which is expected to strengthen supply‑chain security in AI, semiconductors, and critical minerals. Volatility stayed elevated, with the India VIX spiking even as geopolitical tensions still linger. Softer inflation data from Japan supported expectations of accommodative global policy. Structurally, markets remain constructive, though near‑term moves are likely to stay flow‑driven amid global uncertainties, keeping the buy‑on‑dips, sell‑on‑rallies trend intact,” he said.

Global Markets

Asian markets traded mixed with Indian benchmarks and the FTSE Straits Times Index being the only outliers. Others, including China’s Shanghai Composite, Japan’s Nikkei 225 and Hong Kong’s Hang Seng index, settled with cuts of up to 1.3%.

Most major European markets were trading green around 4 pm India time. UK’s FTSE 100 (0.70%), Germany’s DAX (0.30%), French CAC 40 (1%), Spain’s IBEX 35 (0.60%) and Stoxx 600 (0.50%) are traded in the green.

Currency Watch

The Indian rupee slipped on Friday to post its steepest weekly fall in a month as likely portfolio outflows and lingering geopolitical tensions weighed on the currency, pushing it close to the 91-per-dollar mark. The rupee closed at 90.9825 ‌per dollar, ⁠down ⁠0.3% on the day and 0.4% for the week.

Central bank intervention, including on Friday, helped keep the currency above 91 despite broad-based dollar demand from importers and paring of bullish positions, traders said.

There was a meaningful supply of dollars from the central bank in the market today, Reuters reported, quoting a trader at a Mumbai-based ⁠bank, adding ‌he expected the rupee to trade between 90.50 and 91.50 in the near term.

Crude Impact

Crude oil prices reversed their morning winning trends. They have been trading higher amid ongoing tension between the US and Iran on the issue of the latter’s alleged uranium enrichment programme.

While the US WTI was trading at $66.06 per barrel, slipping by $0.37 or 0.56%, the Brent prices hovered around $71.38 mark, falling by $0.28 or 0.39%.

Higher crude oil prices do not augur well for the equity markets, fuelling inflation fears.

Benchmark indices Nifty and Sensex ended Wednesday’s session on a strong footing, driven by sharp gains in metal stocks and state-owned lenders. The broader market added to the positive momentum, with both smallcap and midcap indices rising 0.5% each. However, the relief rally in IT stocks, seen early in the day, proved short-lived, as the sector resumed its decline, with the index slipping over 1% on February 18.

The BSE Sensex rose 283 points, higher by 0.34% to end the day at 83,734, while the Nifty 50 gained 94 points or 0.37% to end at 25,819.

On the 30-share Sensex, Kwality Walls’ India rose 5% to become the top gainer in today’s session. Tata Steel, ITC, Axis Bank, and M&M rose up to 3%. Tech Mahindra, Eternal, Infosys, Adani Ports, HCL Tech, and TCS declined up to 1.6%.

Expert views

“The Indian stock market ended the session on a mildly positive note, as strength in banking, metal, and FMCG stocks provided a steady underpinning and helped counterbalance sharp selling in the IT sector. The resilience in these heavyweight segments lent stability to the indices despite sector-specific pressure. Persistent DII inflows continued to offer strong structural support, cushioning volatility and reinforcing investor confidence amid mixed global cues,” Ponmudi R, CEO of Enrich Money, said.

“Overall sentiment remained cautiously constructive, backed by optimism around domestic growth prospects and improving earnings visibility. However, in the absence of fresh triggers, price action remained largely range-bound and choppy, indicating a phase of consolidation rather than a decisive directional move.”

Global markets

European markets opened higher on Wednesday as investors assessed the latest U.K. inflation data and kept an eye on global market cues. The pan-European STOXX Europe 600 rose about 0.5% shortly after the open. Among major regional indices, the U.K.’s FTSE 100 and France’s CAC 40 gained 0.3% each, while Germany’s DAX advanced 0.4%.

In the U.S., stock futures were largely flat in overnight trading following a muted session on Wall Street. Futures linked to the Dow Jones Industrial Average edged down 32 points, or 0.06%. S&P 500 futures slipped 0.07%, while Nasdaq-100 futures declined 0.1%.In regular trading on Tuesday, the major averages posted modest gains. The S&P 500 and the Nasdaq Composite each rose around 0.1%, while the 30-stock Dow Jones Industrial Average added roughly 32 points, or nearly 0.1%.

The software sector remained under pressure amid ongoing concerns about potential disruption from artificial intelligence. Shares of CrowdStrike fell 3.6%, while ServiceNow declined 1.1% during the session.

In Japan, the Nikkei 225 rose 1% to 57,144, to snap a three-day losing streak. Australia’s S&P/ASX 200 gained 0.55%. Markets in mainland China, Hong Kong, Singapore, Taiwan and South Korea were closed for Lunar New Year holidays.

Crude impact

Oil prices edged higher on Wednesday after tumbling nearly 2% in the previous session, as investors evaluated progress in U.S.–Iran talks while remaining cautious about the likelihood of a final agreement that could ease supply concerns.

Futures for Brent crude rose 26 cents, or 0.4%, to $67.68 per barrel as of 0931 GMT. Meanwhile, West Texas Intermediate (WTI) crude gained 24 cents, or 0.4%, to $62.57 a barrel. Despite the uptick, both benchmarks were hovering near two-week lows.

Rupee vs Dollar

The Indian rupee ended at 90.68 against the U.S. dollar, nearly unchanged from its previous close of 90.6725.

With inputs from agencies

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Indian markets snapped their losing streak on Monday, supported by gains in financials and energy stocks, with additional strength from the pharma and healthcare sectors. The Nifty ended a two-session slide to close at 25,682.75, rising 211.65 points or 0.83%, while the 30-share BSE Sensex rebounded after three consecutive declines to finish at 83,277.15, up 650.39 points or 0.79%.

Top Gainers & Losers

The Nifty breadth remained positive with 35 stocks ending in the green while the remaining 15 were in the red. The top five gainers were Power Grid Corporation, Coal India, HDFC Bank, Adani Enterprises and Max Healthcare Institute, while the five biggest losers were Tech Mahindra, Bajaj Finance, Maruti Suzuki, Tata Motors Passenger Vehicles and Eicher Motors.

Barring media, chemicals and auto sectors, most other indices witnessed buying action with Nifty PSU Bank (1.5%) emerging as the top performer. Energy (Nifty Oil & Gas, 0.9%) was another big contributor in terms of its weight in Nifty. FMCG, pharma and realty gained up to 1.6%.

Expert View

Commenting on the day’s action, Nilesh Jain, Vice President – Head of Technical and Derivative Research at Centrum Finverse, said that Nifty has formed a bullish engulfing candlestick pattern, indicating a potential reversal. The index rebounded sharply after testing the 25,400 zone and successfully held above its 21-DMA at 25,480 on a closing basis, he said. “However, it closed marginally below the 100-DMA at 25,690, which now acts as an immediate resistance. The broader structure remains positive, and a follow-up move towards 25,800 cannot be ruled out, while the immediate support has shifted higher to 25,500 levels,” Jain added.

Global Markets

Asian markets traded mixed today, with Japan’s Nikkei 225 index closing with a decline of 0.24%. China’s Shanghai Composite ended with sharp cuts of 1.3%. Among the gainers were Hong Kong’s Hang Seng and Singapore’s FTSE Straits Times Index.

Meanwhile action in the European markets was buoyant with UK’s FTSE 100 trading 0.17% higher around 10:12 a.m. GMT (3:57 pm India time) while the Stoxx 600, French CAC 40, Germany’s DAX and Spain’s IBEX were higher by up to 1% around this time.

Currency Watch

The Indian rupee ended barely changed on Monday, as usual dollar demand met offsetting inflows, keeping the currency largely rangebound at the start of the week. The rupee moved in a narrow 10-paise band to end ‌at 90.65 against ⁠its ⁠previous close of 90.6350.

The rupee had jumped earlier this month, backed by the optimism from the U.S.-India trade deal, but is back to tracking flow dynamics and external cues.

Dollar sales by exporters and foreign portfolio inflows have helped the currency rise 1.5% so far in February.

“The rupee is not racing. It is waiting,” Reuters reported, quoting Amit Pabari, managing director at FX ⁠advisory firm CR Forex.

From a technical perspective, the 90.00–90.20 zone remains a key support for USD/INR, and a gradual move towards 91.00–91.20 remains possible in the near term, he said.

Although foreign investors remain net buyers of Indian equities for the month so far, they pulled out more than $800 million on Friday, ‌underscoring that flows remain choppy.

Crude Impact

Crude traded lower on Monday. The US WTI oil contracts were trading at $62.670, down by $0.22 or 0.35%, while Brent oil futures were hovering near $67.54, lower by $0.21 or 0.31%.

Indian benchmark indices Sensex and Nifty closed lower on Friday as investors pared positions near record highs, with thin year-end trading and continued foreign outflows tempering risk appetite. The pullback capped a subdued session marked by light participation and selective selling across index heavyweights.

The BSE Sensex fell 367 points, or 0.4%, to end at 85,041.45, while the NSE Nifty 50 declined 0.4% to 26,042.3, slipping below the 26,050 mark.

On the 30-stock Sensex, shares of Bajaj Finance, Asian Paints, Eternal, Sun Pharma and Tech Mahindra were among the biggest drags, each falling between 1% and 1.5%.

Friday’s decline pared weekly gains for the benchmark indices. The Nifty 50 rose 0.3% for the week, while the Sensex added 0.1%, snapping a three-week losing streak.

Beyond the blue chips, performance was mixed, small-cap stocks advanced 1.8% over the week, while mid-cap shares ended little changed.

Expert views

Domestic equities ended lower today as thin year‑end trading volumes and a cautious mood ahead of upcoming earnings prompted broad-based profit booking, said Vinod Nair, Head of Research at Geojit Investments, adding that the optimism around the Santa Claus rally has diminished amid the absence of fresh catalysts, such as progress on a possible U.S.‑India trade agreement, while continued FII outflows weighed on the Indian rupee.

“Large‑cap stocks underperformed mid- and small-cap counterparts, though selective strength persisted in metals and consumer durable stocks, while IT, autos, and banks, witnessed sustained selling pressure,” said Nair.

Global Markets

Asian equities pushed higher on Friday, with regional benchmarks touching their strongest levels in six weeks, as investors looked to cap the year on a firmer note even as a softer yen kept currency intervention risks in focus.

Trading conditions were thin, with markets in Australia, Hong Kong and much of Europe closed. Still, risk appetite improved this week as investors attempted a year-end rally.

Japan’s Topix index climbed to a record high and was last up about 0.5%. South Korea’s benchmark rose 0.6%, extending its advance for the year to roughly 72% and cementing its position as the world’s best-performing major equity market in 2025.

Chinese blue-chip shares also edged higher, with the index up 0.27% and on track for an 18% gain for the year, its strongest annual performance since 2020.

The moves lifted MSCI’s broad Asia-Pacific index to its highest level since mid-November. The gauge was last up 0.4% and has risen about 25% so far this year.

Crude impact

Oil prices were little changed on Friday as investors assessed fresh geopolitical risks amid thin post-Christmas trading. Markets digested reports of U.S. airstrikes targeting Islamic State militants in Nigeria, alongside stepped-up economic pressure on Venezuelan oil exports, even as broader participation remained subdued.

Brent crude futures edged up 12 cents, or 0.19%, to $62.36 a barrel by 1016 GMT. U.S. West Texas Intermediate crude gained 19 cents, or 0.33%, to $58.54.

Rupee vs Dollar

The Indian rupee weakened on Friday, slipping 15 paise to a provisional close of 89.86 against the U.S. dollar, pressured by declines in domestic equities and continued foreign fund outflows.

The dollar, meanwhile, held firm. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.10% at 98.07.

(with inputs from agencies)

Indian equities ended lower on Tuesday, with the Sensex and Nifty extending their decline for a second straight session, as persistent foreign portfolio outflows and a weakening rupee kept investors on edge. Lingering uncertainty over a potential U.S. trade deal added to the cautious mood on Dalal Street.

The S&P BSE Sensex fell 533 points, or 0.63%, to close at 84,679.86, while the NSE Nifty 50 declined 167 points, or 0.64%, settling at 25,860.10.

Among the Sensex’s 30 constituents, Axis Bank, Eternal, HCL Technologies, Tata Steel and Bajaj Finserv led the declines, with losses ranging from 2% to 5%.

Axis Bank slid 5% after brokerage Citi warned that pressure on net interest margins could persist into the December quarter. The stock was the single largest drag on the Nifty, pulling financials lower by 0.8% and private-sector banks down 1.2%.

Broader markets also weakened, with the midcap and smallcap indices falling 0.8% and 0.9%, respectively.

Expert views

The continued INR weakness to fresh record lows, driven by persistent FII outflows and subdued global sentiments, dragged domestic markets into negative territory, said Vinod Nair, Head of Research at Geojit Investments, adding that smallcaps and midcaps lagged large caps, with IT, metals, banking, and realty leading losses, while consumption stocks offered limited support.

“Volatility is expected to remain elevated amid currency fluctuations and uncertainty over foreign inflows. Progress on the US–India trade deal and rupee stabilisation will be critical, while softer commodity prices and improving earnings visibility provide a constructive medium-term backdrop,” said Nair.

Global Markets

Asian markets retreated on Tuesday while the dollar hovered near two-month lows, as investors grew more cautious ahead of a busy run of U.S. economic data, including the closely watched jobs report, that could shape expectations for Federal Reserve policy in the year ahead.

The risk-off tone weighed across asset classes. Bitcoin slipped 0.3% to $86,017.67 after touching a two-week low in the prior session. U.S. Nasdaq futures fell 0.8%, while European equity futures were down 0.5%.

Technology shares led declines across Asia. South Korea’s Kospi dropped 1.8%, Taiwan’s benchmark index fell 0.8%, and Hong Kong’s Hang Seng Tech Index slid 2.7%. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.45%, touching its lowest level in three weeks.

Gold prices eased about 0.6% to $4,275.41 an ounce, slipping back from the eight-week highs reached late last week.

Crude impact

Oil prices extended their decline on Tuesday, as signs of progress toward a potential Russia-Ukraine peace deal fueled expectations that sanctions could eventually be eased, adding to concerns about future supply.

Brent crude futures fell 89 cents, or about 1.5%, to $59.67 a barrel by 0942 GMT. U.S. West Texas Intermediate crude slid 92 cents, or 1.6%, to $55.90 a barrel. Both benchmarks were trading near their lowest levels since May.

Rupee vs Dollar

The Indian rupee slid to a record low on Tuesday, as fragile risk sentiment compounded pressure from sustained hedging demand and foreign portfolio outflows, with uncertainty over a potential U.S. trade deal continuing to weigh on the currency.

The rupee weakened to 91.0750 per dollar before closing 0.3% lower at 91.0275. The currency has fallen more than 6% against the U.S. dollar so far this year, placing it among the worst-performing emerging-market currencies in 2025.

The dollar index, which tracks the greenback against a basket of six major peers, was last at 98.20, slightly lower after earlier hovering near its weakest level since Oct. 17.

(with inputs from agencies)

Indian equities snapped a three-day losing streak on Thursday, with the Sensex and Nifty staging a broad-based rebound after the U.S. Federal Reserve delivered a 25-basis-point rate cut overnight. The recovery came even as the rupee weakened to a fresh record low amid mounting concern over the absence of a U.S. trade agreement.

The Nifty 50 climbed 0.55% to close at 25,898.55, while the BSE Sensex advanced 0.51% to 84,818.13.

Eternal, Tata Steel, Kotak Mahindra Bank, Ultratech Cement and Maruti Suzuki led the advance on the 30-share Sensex, with gains of 1% to 3%.

Broader markets also firmed, as mid-cap and small-cap indices added 1% and 0.8%, respectively.

Metal stocks rose 1.1%, supported by stronger global prices as the U.S. dollar softened in the wake of the Federal Reserve’s rate cut.

The rebound follows a three-session slide in which both the Sensex and Nifty had dropped roughly 1.6%.

Expert views

Domestic markets rebounded broadly following the Fed’s expected 25-bps rate cut amid high U.S. inflation, said Vinod Nair, Head of Research at Geojit Investments, adding that the decline in U.S. 10-year yields indicates a moderation in future FII outflows, which bolstered sentiment. “The auto sector excelled due to anticipated stronger demand, while IT gained traction on the prospect of increased spending. Conversely, other Asian markets experienced selling pressure over concerns about AI-driven valuations and rising Japanese yields, which negatively impacted overall domestic sentiment,” said Nair.

Global Markets

Stocks retreated on Thursday after a weak earnings update from Oracle raised fresh doubts about the near-term profitability of artificial-intelligence investments. Bond markets held steady, and the dollar extended losses following the Federal Reserve’s rate cut.

Oracle shares sank more than 11% in after-hours trading, pulling S&P 500 futures down 0.9% and Nasdaq 100 futures 1.3% in Asian hours. The selloff rippled across AI-linked names in Tokyo after the company forecast softer profit and revenue and signalled higher spending, evidence that heavy infrastructure outlays are not yet translating into returns investors anticipated.

Japan’s Nikkei slipped 1%, weighed down by a 7.5% drop in SoftBank Group, an Oracle partner in the Stargate data-centre venture. Hong Kong’s Hang Seng eked out a 0.06% gain, while MSCI’s Asia-Pacific ex-Japan index fell 0.5%.

Crude impact

Oil prices edged lower on Thursday as investors refocused on Russia-Ukraine peace negotiations and assessed the potential repercussions of the United States seizing a sanctioned tanker off the Venezuelan coast.

Brent crude slipped 1.3% to $61.40 a barrel, while U.S. West Texas Intermediate declined by the same margin to $57.68.

Rupee vs Dollar

The Indian rupee tumbled 54 paise to a record low of 90.48 per dollar in intraday trade on Thursday, pressured by reports that a long-awaited India–U.S. trade deal may not materialise until March 2026.

The dollar index slipped 0.17% to 98.61, extending its decline after the Federal Reserve’s rate cut and a softer-than-expected policy outlook.

(with inputs from agencies)