Rupee Strengthens, Stock Markets Open Strong, PM Reviews Key Economic Sectors | BusinessToday
The Indian rupee opened stronger at 95.72 against the US dollar, supporting a positive start for equity markets at the beginning of the August derivatives
The Indian rupee opened stronger at 95.72 against the US dollar, supporting a positive start for equity markets at the beginning of the August derivatives series. The Nifty 50 opened higher, moving past the 24,100 mark, driven by gains in information technology stocks including Infosys, Tata Consultancy Services, and HCL Tech. Broader indices, banking, FMCG, and metal stocks also witnessed buying interest.
Meanwhile, Prime Minister Narendra Modi chaired a high-level review meeting with top secretaries from key economic, commerce, industry, finance, and technology ministries. The discussion focused on breaking departmental silos, improving inter-ministerial coordination, accelerating policy reforms, strengthening energy security, and promoting indigenous technological self-reliance ahead of the upcoming union budget. In corporate developments, IT firm Coforge reported robust Q1 results with strong order wins, Tata Power recorded profit growth for its twenty-seventh consecutive quarter, and the primary market saw the launch of the Manipal Health initial public offering.
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