GIFT Nifty down 82 pts, India VIX up 2%, rupee up 2%
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- GIFT Nifty fell 82 points (0.36%) to 22,623, signalling a negative start for Dalal Street on Monday.
- India VIX rose 2% to 25.52, indicating heightened market fear.
- Asian stocks mixed: Nikkei up 0.7%, South Korea up 2%, while China and Hong Kong markets were closed for a public holiday.
- Oil climbed on supply‑loss fears from Middle‑East shipping disruptions tied to the U.S.–Israeli war with Iran, while gold fell more than 1% as a stronger dollar and waning Fed rate‑cut expectations pressured it.
- Foreign portfolio investors sold shares worth Rs 9,931 crore, while domestic institutional investors bought Rs 7,208 crore.
- Rupee surged over 2% to 92.8350 per USD, rebounding sharply after a record low of 95.21, following the RBI’s tighter stance on speculative bets.
- Dollar steadied, and the yen hovered near the 160‑per‑dollar level amid investor nervousness over the Iran war and President Trump’s deadline to reopen the Strait of Hormuz.
Why it matters: The 2% rupee surge cushions importers and validates the RBI’s tighter stance, but the 82‑point Nifty decline and Rs 9,931 crore foreign outflows pressure equity investors, underscoring a split market where currency gains coexist with equity weakness. The divergence signals that while the central bank can stabilize the currency, broader risk sentiment remains fragile, limiting potential upside for domestic stocks.
