The offsetting strengths are real --record foreign exchange reserves, the Reserve Bank's active presence in the market, and strong domestic growth at 7.8 per cent -- but with crude above $100 and global yields rising, the import bill is the dominant force in the near term, Banerjee said.
Investors will track US and Indian inflation data for further cues.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.16, higher by 0.12 per cent.
Brent crude, the global oil benchmark, was trading marginally lower by 0.76 per cent at $108.45-per-barrel in futures trade, amid escalating US-Iran tensions and fears of disruption to oil flows through the Strait of Hormuz.
On the domestic equities market front, Sensex slumped 628.24 points to 74,257.69 in early trade, while the Nifty dropped 221.20 points to 23,255.10.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 438.24 crore on a net basis on Thursday, according to exchange data.
Published on September 11, 2026
