Indian stock market has also like the global stock market been through the thick and thin and still has always maintained to be steadily grounded. The Indian economy has been maintaining a strong foothold amongst the top economies of the world, recuperating fast post recession. This week also, amidst the fluctuating market scenarios, it was the Indian rupee that ended stronger this Friday.
The India market surprisingly saw the Indian rupee getting stronger after having hit its lowest the very last week. Market experts have concluded before the federal budget was announced that this might add to the movement of domestic shares and as a result will surely influence the rupee to a greater extent. But the result has taken the entire India market by surprise as the local unit's rise was very limited due to the pre-speculated Indian stock market analysis. What added to the gains of the Indian stock market was the Indian shares gains which was a complete come back after a three-day losing streak. This was also boosted by the European and Asian peers and undoubtedly the fall in the prices of oil.
Various business news websites reported the weakness of dollar against most major currencies as one of the top highlights of the Indian stock market. Another headline that made heads turn was the ease on the oil prices. What also rose besides the Indian rupee were the South Korean won and Malaysian ringgit. Most of the traders in the India market depicted that the emerging market currencies are still vulnerable to volatile fluctuations in the energy sector.
The retreat of crude oil prices owing to indications of unrest in Libya is indicative of some strong impact on the Indian stock market as oil is India's biggest import. On top of that, state-run oil refiners are among the largest buyers of the dollar in India currency market. Euro was also hovering near its highest against the dollar and the index of the Dollar at the end of India market trade was down 0.2 percent as against the six major currencies. Get all the updates live and exclusive for Indian market.