INR stays well supported by foreign fund inflows

The Indian rupee surged 38 paise to 84.58 (provisional) against the US dollar on Wednesday as trade-deal hopes and foreign fund inflows boosted investor sentiments. US President Donald Trump's statement that tariff talks with India are in a positive direction enthused investors. However, geopolitical tensions between India and Pakistan and a muted sentiment in domestic equities weighed on investor sentiments. Indian shares swung between gains and losses before ending marginally lower on Wednesday. The benchmark S&P BSE Sensex ended the session down 46.14 points at 80,242.24 while the broader NSE Nifty index closed little changed at 24,334.20. The BSE mid-cap and small-cap indexes fell 0.7 percent and 1.7 percent, respectively.

 

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