The Indian rupee pared initial gains to close unchanged at 95.89 (provisional) against the US dollar on Friday amid a strong American currency. Positive momentum in domestic equity markets, however, supported the Indian currency. Rupee's fall was capped as crude prices slid below the 104-per-barrel level, and US bond yields eased after the US Federal Reserve hiked interest rates by 25 basis points. Indian shares ended Friday's session mostly higher as a pullback in oil prices and global bond yields helped ease concerns around inflation, India's import bill and earnings. The U.S. Federal Reserve's first interest-rate hike in three years also instilled confidence in investors regarding the central bank's resolve to bring inflation under control. The Nifty 50 gained 75.80 points (0.33%) to close at 23,346.40, while the BSE Sensex slid marginally by 19.63 points (0.03%) to finish at 74,294.96.
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