Equities on Friday recovered from a more than four-month low while rupee rebounded from an all-time low.
The Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) recovered to 16152.75 at the close, a gain of 82.27 points compared to Thursday's close.
It dipped to a low of 15809.71 intra-day. However, it recovered after the announcement of the annual financial results of the State Bank of India (SBI).
Banking stocks gain
The Sensex gain was led by banking stocks (1.75 per cent), followed by FMCG (1.14 per cent), PSU (0.79 per cent) and oil and gas (0.58 per cent). However, automobile, capital goods and realty ended in the red.
A broader National Stock Exchange's 50-share Nifty closed at 4801.45 a gain of 21.25 points.
Rupee at new low
The rupee touched an all-time low of 54.91 against the U.S. dollar in the intra-day.
However. it recovered to 54.42/43 to a dollar at the close compared to Thursday's close of 54.48/49. Since February, the rupee has fallen over 10 per cent
Indian rupee is the worst affected currency in the Asian region. “All major currencies in non-Japan Asia have depreciated sharply against a strong U.S. dollar over recent weeks, leading to fear that higher consumer price inflation will be the next problem to confront local equity (and bond) markets,” said in a report titled Asian Currency Weakness. An inflationary threat? published by Credit Suisse.