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The rupee touched an intraday record low of 84.507 to a dollar, but ended stronger at 84.445/$1, despite the US dollar index strengthening to a two-year high, as the Reserve Bank of India (RBI) likely sold the greenback to cap further depreciation in the currency, traders said.

J.P. Morgan sees the price of Brent oil averaging $73 per barrel (/bbl) in 2025 and expects it to close the year firmly below $70/bbl, with U.S. West Texas Intermediate at $64/bbl, the bank said in a note on Friday.

The Nifty gained 375 points over the week to close at 23,907. A smart comeback by the bulls in the second half of this week helped the market recover almost the entire loss registered in the first half.

Food delivery company Zomato will replace JSW Steel in the BSE Sensex as part of the index reconstitution which becomes effective from December 23.

Japanese retail investors have pulled back from Indian funds for the first time in six years, leading to significant outflows from Indian markets. This shift, combined with record inflows into US funds, signals a cooling of foreign investor sentiment towards India. The weakening yen and rising appeal of US assets have contributed to this trend.

The Nifty Realty index closed 3.17 per cent at 1006.25.

Sebi has proposed engaging independent external agencies to identify suitable candidates for the appointment of key management personnel at market infrastructure institutions. The NRC will evaluate these recommendations and send them to the governing board and Sebi. The aim is to ensure independence, transparency, and accountability in key managerial appointments. Sebi also proposes a cooling-off period for KMPs and directors to prevent conflicts of interest.

Indian markets rebounded strongly, led by IT, banking, and Reliance stocks. Raymond surged 16.66%, Info Edge rose 6.3%, while Adani Group and Honasa Consumer stocks declined.