Analysts said the rupee rises 14 paise to 87.95 against dollar mainly on the back of strong domestic equities. However, pressure remains from concerns over U.S. tariffs on India and global market uncertainty. Traders also noted the possibility of Reserve Bank of India intervention to curb volatility after the rupee touched record lows last week.

On September 5, the currency had dropped to an intraday low of 88.38 before closing at 88.09. It recorded its lowest closing level of 88.15 on September 2.

Globally, the dollar index eased to 97.40 as U.S. economic data signaled a potential rate cut by the Federal Reserve. Meanwhile, Brent crude traded at $66.37 per barrel, up 0.53%.

In equities, Sensex surged 366.87 points to 81,154.17, while Nifty rose 101.35 points to 24,874.50. Despite the rebound, experts warn that trade tensions and tariff disputes may continue to cap gains for the domestic currency.

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At the opening bell, the Sensex rose by 289 points to touch 81,007.03, while the Nifty climbed 92 points to reach 24,826.05. Market experts said the positive momentum reflects investor confidence in the government’s decision to simplify the GST structure and reduce tax rates on key sectors.

Analysts noted that the reforms, which cut down the number of tax slabs and lowered rates on essentials and services, are expected to boost consumption and support corporate earnings in the coming quarters. Sectors like banking, FMCG, and automobiles led the rally, while IT stocks also showed steady buying interest.

Global cues also played a supportive role. Asian markets traded firm despite lingering concerns over global tariffs and currency fluctuations. With foreign investors showing renewed interest, Indian equities are expected to maintain their upward trajectory in the short term.

Market strategists, however, cautioned that while GST reforms have created immediate bullish sentiment, sustained growth will depend on earnings data and macroeconomic stability in the coming months.

For now, the surge in stock indices has given markets a festive boost, setting the tone for what traders hope will be a strong September series.

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