Nifty, Sensex End Week Under Pressure as Rupee Hits Record Low of 96/USD

The benchmark Nifty 50 index closed at 23,643.50, declining by 46.10 points or 0.19 per cent, while the BSE Sensex settled at 75,237.99, down by 160.73 points or 0.21 per cent.

Market experts said investors turned cautious following the recent rally as concerns over inflation, currency weakness and rising global bond yields affected market sentiment.

Vinod Nair, Head of Research at Geojit Investments Limited, said, "Investors have turned cautious post the recent relief rally, with rising bond yields, a weaker rupee, and fresh fuel price hikes reviving inflation concerns. Favourable valuations and a solid Q4 earnings print are cushioning the downside."

He added that the market focus has now shifted towards possible fiscal and monetary measures to support the rupee and stabilise the balance of payments.

"Globally, surging yields have paused the AI-led rally. Near-term direction is likely to be driven by geopolitical developments -- specifically, any progress on reopening the Strait of Hormuz, with the Trump-Xi meeting positioned as the key catalyst," he said.

A mixed trend was witnessed among sectoral indices on the NSE. The Nifty Metal index declined by 2 per cent, while the Nifty Realty index fell 1.89 per cent. Nifty PSU Bank also slipped 1.87 per cent, and Nifty Financial Services declined 0.66 per cent. Among other sectors, Nifty Consumer Durables was down by 0.15 per cent. However, some sectors managed to close in positive territory.

Nifty IT surged 1.21 per cent, Nifty Media gained 1.58 per cent, while Nifty Healthcare rose 0.21 per cent. Nifty Auto also ended marginally higher with a gain of 0.05 per cent.

The Indian rupee touching the 96 mark against the US dollar remained one of the major concerns for investors during the session.

Meanwhile, global crude oil prices remained elevated as disruptions around the Strait of Hormuz continued.

Brent crude prices surged by more than 3 per cent and were trading at USD 109 per barrel at the time of filing this report.

In the commodity market, gold prices declined by more than 2 per cent to Rs 1,58,633 per 10 grams for 24 karat gold. Silver prices also witnessed heavy selling pressure and declined by around 7 per cent to Rs 2,70,952 per kilogram.

Other Asian markets also closed under pressure on Friday amid global concerns. Japan's Nikkei 225 index declined 2.70 per cent to close at 61,005, while Singapore's Straits Times index slipped 0.14 per cent to 4,989. Hong Kong's Hang Seng index ended lower by 1.73 per cent at the 25,940 level. Taiwan's weighted index declined 1.41 per cent to 41,172, while South Korea's KOSPI index registered a sharp fall of 6.52 per cent to close at 7,493.

- ANI