Sensex, Nifty End Lower As Rupee Hits Record Low Against Dollar

Indian benchmark equity indices ended lower on Friday after intense late-session selling erased earlier gains amid surging crude oil prices and persistent weakness in the rupee against the US dollar.

The Sensex dropped 160.73 points, or 0.21 per cent, to settle at 75,237.99. The Nifty declined 46.10 points, or 0.19 per cent, to close at 23,643.50.

Market sentiment weakened significantly during the final trading hours after the Indian rupee touched a fresh lifetime low against the US dollar.

Investors grew cautious over rising import expenses and inflationary concerns triggered by the currency depreciation.

Analysts stated that the Nifty requires a sustained breakout above current levels to strengthen bullish momentum and push towards the 23,900-24,000 range. They added that the 23,500–23,400 zone continues to act as an immediate support area. A decisive breach below this range could drag the index towards 23,300-23,200.

The sharp rally in international crude oil prices further dented investor confidence, particularly across energy-sensitive sectors.

Brent crude futures for May delivery climbed 2.9 per cent to $108.8 per barrel on the Intercontinental Exchange, intensifying concerns regarding fuel inflation and corporate profitability.

Among major laggards on the Nifty were Hindalco Industries, Eternal, and UltraTech Cement. Broader markets also witnessed selling pressure.

The Nifty MidCap index declined 0.45 per cent, while the Nifty SmallCap index slipped 0.61 per cent.

Sectorally, metal, realty, and oil and gas stocks recorded the steepest losses.

Technology and media shares attracted selective buying interest, helping Nifty IT and Nifty Media indices close in positive territory.

The rupee eventually settled at 95.97 after touching a record low of 96.14 during the session.

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