Pulse of the Street: Best week since April puts recovery to the earnings test
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The BSE LargeCap index gained 1.85% last week, marking the best performance since April.
- ✓While the rupee strengthened to ₹94.96 against the dollar, experts remain cautious.
- ✓Gurmeet Singh Chawla said, “Sentiment alone won’t hold the rally, though.
Story at a Glance
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- MARKET
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- Livemint
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- 5 Minute(s)
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- India Economy
The gains extended the previous week's rebound, which broke an eight-week losing streak. The challenge now is to turn that recovery into a broader advance backed by earnings rather than sentiment alone.
Rupee lends support
The Indian rupee strengthened to ₹94.96 against the dollar on Friday from ₹96.74 a week earlier, easing currency pressures.
Sanjit Singh Paul, smallcase manager and managing director at Modulor Capital, attributed the rebound to Reserve Bank of India (RBI) measures supporting the rupee, softer US yields, positive IT results and domestic institutional buying. The RBI opened a special dollar window for oil companies, diverting their demand from the spot market, and tightened currency-hedging rules.
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