Mumbai January 16, 2026:Â Indian equity markets traded on a steady note on Friday, with benchmark indices posting modest gains amid mixed global cues and cautious investor sentiment. The BSE Sensex was trading around 83,570, up by about 188 points, while the NSE Nifty hovered near 25,694, reflecting a marginal rise in afternoon trade.
Market participants remained selective as they tracked movements in key global indicators, including currency markets, crude oil prices and precious metals. The Indian rupee weakened further against the US dollar, with the exchange rate slipping to around 90.85 per dollar. Currency traders attributed the pressure on the rupee to sustained dollar strength and concerns over global interest rate trajectories, even as intermittent portfolio flows provided limited support.
In the commodities space, Brent crude prices edged slightly lower, trading near 62.45 dollars a barrel. The decline was modest, with oil markets balancing supply-side factors against demand uncertainty and ongoing geopolitical developments. Energy stocks showed limited reaction, reflecting the narrow range in crude prices.
Precious metals, meanwhile, continued to attract attention as a hedge against currency volatility. Gold prices in Mumbai were quoted at approximately ₹1,45,440 for 10 grams of 24-carat gold, maintaining firm levels after recent gains. Silver prices eased marginally, with the metal trading around ₹292 per gram, reflecting mild profit booking after recent fluctuations.
Overall, analysts said markets were consolidating after recent rallies, with investors awaiting clearer signals from global central banks and macroeconomic data. The combination of a softer rupee, stable equities and firm precious metals underlined the cautious but balanced tone prevailing across financial markets as the week drew to a close.
