Forex

In the last seven days, the rupee has sharply recovered by 2 percentage points or 2 units and settled at 95.06/dollar levels on Thursday. What prompted this swift comeback?

Stock Market Live Highlights: Among sectors, losses were seen in Nifty Pharma, Nifty Metals, Nifty Auto, Nifty Realty and Nifty Private Bank indices, while Nifty IT, Nifty FMCG, Nifty Oil & Gas and Nifty Media indices ended in the green.

Asian markets traded lower on Wednesday, with Japan's Nikkei 225 declining 0.05%, Australia's S&P/ASX 200 falling 0.64%, South Korea's Kospi slipping 0.44% and Japan's Topix losing 0.34%.

Stock Market LIVE Updates: Among sectors, strong gains were seen in Nifty IT, Nifty FMCG, Nifty Realty, Nifty Auto, Nifty Metals and Nifty PSU Bank indices, while Nifty Pharma and Nifty Media indices were in the red.

Bhandari has highlighted the sharp rise in US Treasury yields as a key risk to the global economy and a potential catalyst for a change in market direction.

The broader markets, bucking the trend, ended higher. The Nifty Small Cap 100 index closed 1.42% higher, while the Nifty Mid Cap 100 index settled 0.08% up.

The RBI rolls out its third intervention this year to defend the rupee, but persistent macro headwinds suggest the relief may just be borrowed time.

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Broader markets also ended in positive territory. The Nifty Smallcap 100 index closed 0.55% higher, while the Nifty Midcap 100 index settled 1.55% up. The India VIX, which measures expected market volatility, ended 6.03% lower.

The outlook is not uniformly bearish. Kotak Securities and Emkay retain 'Add' ratings, Motilal Oswal maintains 'Buy', and JPMorgan remains 'Overweight'. UBS, meanwhile, sees healthy AI revenue growth and an uptick in hiring as encouraging signs for the IT services sector.

TCS Q2 Results: TCS management said demand is improving across several areas, although the discretionary spending environment has not changed materially. Regional markets remained volatile, while India revenue declined in constant-currency terms.

All the sectoral indices witnessed selling, with Nifty Metals, Nifty Realty, Nifty Pharma, Nifty Oil & Gas, Nifty Auto and Nifty FMCG indices falling the most.