Foreign capital investment and positive domestic statistics caused the Indian rupee to reach its highest level in seven months as it passed the 84-dollar threshold on Friday. The rupee rose temporarily towards its seven-month high but closed at 84.53 versus the US dollar, which represented just one paisa increment from its outset position.
The rupee opened trading at 83.98 to reach its highest point at 83.76 during the day, but then retreated. The encouraging macroeconomic statements, such as historic GST collections merged with positive manufacturing figures, created the initial market strength, according to traders.
The April 2025 GST tax revenue reached the highest level in India at 2.37 lakh crore rupees. The net GST revenue reached Rs 1.92 lakh crore in April with a significant increase of 12.6% compared to the previous year. This remarkable performance earned praise from the Centre, which recognized the economic strength as well as the successful fiscal partnerships between the Central government and state authorities. Entire April collections from GST maintained their position as the second highest financial data since the duty taxes rolled out in 2017.
The April Purchasing Managers’ Index (PMI) reached its highest level in ten months at 58.2 because strong market demand coincided with stable new order intake.
The Nifty 50 index concluded its trading session on the higher side of 24,300 points while equity market conditions remained volatile. Stock prices of Adani Ports alongside IndusInd Bank and Bajaj Finance, and Maruti produced profits that reduced the impact of negative performance from JSW Steel, Eicher Motors, and Hero MotoCorp shares. The BSE Midcap index declined by 0.4%, but the smallcap index experienced minimal change throughout the day.
The Wednesday exchange data reported Foreign Institutional Investors (FIIs) net purchases of Rs 50.57 crore. The overall sentiment points to cautious optimism amid global uncertainties.
Join our whatsapp group for Latest updates
Click Here for Chhattisgarh News
Click Here for Entertainment News