Sensex dropped 138 points to 62,134.65 levels, while Nifty dropped 23 points to 18,460.60 in early session of Friday . The Indian rupee rose to 81.63 on Thursday as the dollar index fell against a basket of world currencies .
Mumbai (Maharashtra), India, November 25: After being volatile during the morning trading on Friday, Indian markets dropped and snapped their rally.At 9.39 am, the Sensex dropped 138 points to 62,134.65 levels, while the Nifty dropped 23 points to 18,460.60 in the early session of Friday.The US Federal Reserve's warning that it will slow its rate hike is good news for the international markets.Last week, the global markets picked up the warnings and recovered.
However, selling pressures dragged the indices down on Friday morning, which declined after being volatile.The BSE SmallCap dropped 74 points to 62,197.70 out of the broad-based indices, with ITDC, Religare, and Finolex Industries among the gainers.Bank of India, IOB, Max Health, and GSPL were among the active stocks on the index, and BSE MidCap lost 130 points to 7,125.77, with Paytm, PNB, DLF, and Bank of Baroda being among the most active stocks on the index.The rupee rose to 81.63 on Thursday as the dollar index fell against a basket of world currencies after the Federal Open Market Committee (FOMC) minutes indicated a less hawkish outlook going forward. According to analysts, the Indian rupee is predicted to continue falling in 2023, ranging from 84 to 85.The rupee is currently around 81.7 rupees per dollar against the US currency.Despite macroeconomic challenges, the local currency has fallen dramatically by more than 10% against the greenback so far in the current year.