Indian markets remained steady today, with Sensex and Nifty hovering near flat as investor attention focused on RBI’s proactive measures to support the rupee and renew green funding avenues.
What’s Driving the Market?
1. RBI Forex Intervention
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The RBI sold U.S. dollars (~₹86.05) through state-run banks to counter volatility from rising oil prices triggered by Israeli strikes on Iran, helping the rupee recover from ₹86.20 to ~₹86.04
2. Green Bond Re-Issue
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In line with sustainable financing priorities, the RBI reissued ₹5,000 cr in sovereign green bonds, increasing investor interest in eco-friendly sectors
3. Liquidity Normalization Continues
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The central bank omitted its 14‑day VRR repo for the third straight time, suggesting confidence in system liquidity despite upcoming tax and GST outflows (~₹3 trn)
4. Gold Futures Hit Record
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Amid rupee softness and safe-haven demand, Indian gold futures crossed the ₹100,000/10 g mark for the first time
Morning Snapshot
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Sensex & Nifty: Flat with slight upside bias.
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Rupee: Firmed to ~₹86.04 post-intervention
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Gold: Topped ₹100 k/10 g, boosted by currency pressure and global trends
Expert Insights
Analysts see today’s calm as a product of proactive central bank intervention and liquidity comfort, balancing global uncertainties and domestic stability. Technical watchers suggest Nifty’s floor lies at 25,000–25,050, with any breakout above 25,200 signaling renewed bullish interest.
Today’s Key Headlines
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RBI forex intervention supports rupee amid oil-led stress due to Middle East tensions
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Re-issuance of ₹5,000 cr green bonds reinforces India’s ESG financing focus
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No VRR repo conducted for a third period – liquidity remains ample
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Gold futures surge past ₹100,000/10g on safe-haven buying
What to Watch
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Oil Price Volatility: Any escalation in the Middle East could test the rupee and inflation.
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Gold Prices: Continued rupee weakness may drive broader gold demand.
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Liquidity Flows: Post-GST/tax outflows may pressure system liquidity—monitor RBI actions.
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Market Support Levels: Nifty’s 25,000–25,050 zone is key; watch for momentum above 25,200.
Final Word
June 13 saw the RBI skillfully navigating volatility through currency intervention and green bond issuance, keeping markets balanced. With inflation and liquidity backdrop stable, the stage is set for a soft recovery—assuming global oil tensions ease.
