The Indian rupee continues to hold in a tight range against the US dollar, as massive outflow of foreign funds and mixed global cues dent investors' sentiment. Indian shares may see cautious gains at open on Monday as investors prepare for the first days of the Trump's second term. Last week, local equities ended lower on Friday amid earnings concerns. The benchmark S&P/BSE Sensex ended the session down 423.49 points, or 0.55 percent, at 76,619.33.The broader NSE Nifty index closed at 23,203.20, down 108.60 points, or 0.47 percent, from its previous close. A firm American currency and higher crude oil prices also weighed on the domestic unit. On Friday, rupee opened at 86.60, stayed range-bound between the high of 86.55 and low of 86.62 throughout the day and ended at 86.62 against the greenback, 1 paisa down from its previous closing level. Meanwhile, industry body FICCI's Economic Outlook Survey projects an annual median GDP growth forecast of 6.4 per cent for 2024-25. The forecast in the current survey marks a moderation from 7.0 per cent estimate (for 2024-25) put out in the previous round conducted during the month of September last year. The numbers are in line with the broad expectations and reflect a notable slowdown vis-'-vis 8.2 per cent GDP growth recorded in 2023-24. Furthermore, according to the participants, India's economic outlook for 2025 presents cautious optimism, amidst the backdrop of persisting external headwinds. Powered by Commodity Insights |