Nifty rebounds on earnings optimism; rupee weakens against dollar

Indian stock markets opened on a positive note with the Nifty index climbing 0.6%, marking an end to an eight-week downtrend. Market analysts attribute the rebound to favorable second-quarter corporate earnings and robust performance from the banking sector.

However, the Indian rupee faced headwinds, depreciating against the US dollar amid rising global oil prices and ongoing foreign fund outflows. The dual movement reflects mixed sentiment in the market, with domestic equity strength contrasting against currency weakness.