Indian Markets Slide as Rupee Strengthens Amid Global Trade Tensions

The Indian rupee gained against the dollar on falling crude prices, but Sensex and Nifty indices suffered sharp losses due to foreign investor sell-offs and global tariff impacts.

• The Indian rupee strengthened by 34 paise to 84.96 against the US dollar, supported by a weaker greenback and declining crude oil prices.
• Indian equity markets saw significant declines, with the Sensex dropping 930.67 points (1.22%) to close at 75,364.69 and the Nifty falling 345.65 points (1.49%) to 22,904.45.
• Foreign institutional investors (FIIs) net sold equities worth Rs 2,806 crore, contributing to the market downturn.
• India’s volatility index, India VIX, rose by 1.13% to 13.76, reflecting increased investor caution due to global trade uncertainties.
• India’s relatively low tariff rates have bolstered its competitiveness, even as US-led reciprocal tariffs disrupt global markets and fuel recession fears.

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