Overview
- Global oil jumped after President Trump's Wednesday address vowing to hit Iran "extremely hard", with Brent near $109 a barrel and U.S. crude above $111.
- In Thursday's session, the Sensex and Nifty sank nearly 2% at the open before value buying in IT and banks helped both indices close slightly higher.
- The rupee logged its steepest one‑day rise since 2013, strengthening about 1.8% to roughly 93.10 per dollar as speculative dollar positions were cut.
- The RBI measures included capping banks’ net open rupee positions at $100 million and curbing offshore non‑deliverable forwards offered to clients, yet foreign investors still sold about Rs 8,300 crore of shares.
- Volatility stayed high and the market posted a sixth straight weekly loss as elevated oil threatens Indian inflation and import costs, with traders focused on the RBI policy decision and key U.S. inflation data next week.