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Sensex Holds Steady As IT Rebounds And Banks Slip
Finimize 2d ago·16 Jul 2026, 12:58 pm
Originally published by Finimize. Read on Finimize →
India’s benchmark indexes were little changed, while the rupee dipped to 96.345 per US dollar as dollar demand tied to maturing NDF contracts weighed.
India’s Sensex and Nifty were almost unchanged on July 16th: gains in IT shares helped offset losses in big banks, while the rupee slipped to 96.345 per US dollar as dollar demand linked to maturing NDF contracts kicked in.
A calm headline number can hide a noisy market. Reuters said the Sensex hovered around 77,186 and the Nifty 50 near 24,073 as IT rebounded but lenders slid after earnings, leaving the benchmarks stuck in a sector tug-of-war.
The currency move was more about market mechanics than oil: the rupee weakened even as crude eased and some regional peers firmed, because traders needed dollars to settle non-deliverable forwards..
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