Good morning... I’m Pratigya Vajpayee in New Delhi, where officials may be heaving a sigh of relief now that the rupee has finally found some stability. The market has long been jittery, and every dip has drawn criticism from traders and policy makers alike.

Many would be happier still if the easing FX market volatility helped kickstart a rally for stocks as well. In that regard, the good news is that crude oil prices are cooling, and Fed rate hikes are now being perceived as less aggressive. That shift has lifted confidence.

The effect has been felt across the board: US equities closed at a record‑high overnight, and investors are beginning to look beyond domestic borders. The 2026 atmosphere of cautious optimism could attract more foreign money into India, especially if the rupee maintains its steadier course.

Analysts note that sustained stability will require continued prudent fiscal policy and monetary restraint. Meanwhile, the market will watch closely for any signs of renewed volatility that could reverse the positive momentum seen in the past few weeks.