Tue Jan 28 09:42:26 UTC 2025: ## Indian Rupee Weakens Amid Global Uncertainty, Stock Markets Rise

**MUMBAI, INDIA** – The Indian Rupee weakened against the US dollar today, pressured by global risk aversion stemming from US tariff threats and FII outflows. While a decline in crude oil prices offered some support, the overall trend remained negative, with the USDINR spot price expected to trade between Rs 86.30 and Rs 86.80. The Reserve Bank of India’s (RBI) planned OMO (Open Market Operation) may provide some support at lower levels. Despite this, the Sensex closed up 0.86 percent at 76,014.64, and the Nifty rose 0.69 percent to 22,987.05.

Other key market developments include:

* **Swiggy’s stock price** dropped 15 percent over the past six sessions, falling below its IPO price.
* **FrieslandCampina** selected Wipro to manage its core IT services for five and a half years.
* **One unnamed company** reported a 25% year-on-year increase in profit to Rs 548 crore and a 25% rise in net interest income to Rs 806 crore.
* **A broking firm** trimmed its earnings estimates by 11.3% and 1.7% for FY26E and FY27E, respectively, due to slower business growth and high credit costs. They revised their target price to Rs 988 per share.
* **DeepSeek’s advancements in AI model development** are disrupting the AI landscape, potentially challenging the dominance of major US tech companies and opening opportunities for Indian software service companies.

The article also mentions the Traders Gurukul’s “India’s Largest Regional Retail Option Traders Summit (BOTS),” held on the 2nd or 3rd Sunday of each month across major Indian cities. The event aims to improve access to information and generate leads for brokers. Finally, the article notes investor caution ahead of the upcoming FOMC meeting.

Read More