The rupee opened at ₹94.29 per US dollar, compared with its previous close of ₹94.98. The currency subsequently strengthened to an intraday high of ₹94.27, its strongest level since June 29, according to Bloomberg data.
Trump made the proposal in a social media post on Wednesday, arguing that the waterway is now under US control. The statement came less than a day after US forces conducted another round of strikes against Iranian military targets.
Shares of Lumino Industries Ltd made a strong debut on the Indian stock exchanges on Thursday, September 3, listing at a premium of more than 34% over the company's IPO price.
The positive opening was supported by buying in banking, metal and select large-cap stocks, although weakness in information technology and FMCG shares limited the broader gains.
The Nifty IT index has declined nearly 17 per cent on a year-to-date basis, making it the weakest-performing sectoral index during the period under review. According to ACE Equity data, the decline has wiped out around ₹6.37 trillion in investor wealth.
The Nifty 50 declined 1.25 per cent to close August at 24,080. In contrast, the Nifty Midcap 100 advanced 2.08 per cent and the Nifty Smallcap 100 gained 3.06 per cent. The Nifty 500 ended the month broadly flat.
The direction came while the top court was hearing petitions challenging the prolonged tenure of BCI chairman Manan Kumar Mishra and seeking his removal from the post.
The strongest momentum was visible in the medium and heavy commercial vehicle (M&HCV) segment, pointing to improving demand from logistics, construction, infrastructure and long-haul transportation businesses.
The sell-off followed a rise in Brent crude prices amid concerns over possible disruptions to crude supplies through the Strait of Hormuz. Brent was trading 1.06 per cent higher at $95.65 a barrel.