The Indian rupee slipped below the 90-mark and settled the day lower by 22 paise at 90.20 (provisional) against the US dollar on Friday, amid disappointing macroeconomic data and strengthening of the American currency in overseas markets. Persistent foreign fund outflows and strong dollar demand from importers further dented investor sentiment. However, weak crude oil prices and a surge in the domestic equities cushioned the downside. Meanwhile, Indian shares ended Friday's session notably higher despite persistent foreign fund withdrawals and lingering uncertainty over a trade deal with the United States. Investors shrugged off the results of survey data from S&P Global, which showed India's manufacturing activity expanded at the weakest pace in two years amid slower rises in output and new orders. The HSBC manufacturing Purchasing Managers' Index dropped to 55.0 in December from 56.6 in November. The benchmark BSE Sensex jumped 573.41 points, or 0.67 percent, to 85,762.01 as investors braced for the upcoming quarterly earnings season and the presentation of the Union Budget on February 1. The broader NSE Nifty index gained 182 points, or 0.70 percent, to close at 26,328.55.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
