The dollar index, measuring the strength of the greenback against a basket of six currencies, showed a 0.07% increase, reaching 102.24. Despite a modest rebound in the US dollar and concerns about oil supplies through the Red Sea route affecting investor sentiment, the Indian rupee concluded Wednesday with minimal change against the US dollar. It closed 1 paise higher at 83.17 per dollar, compared to the previous day's closing rate of 83.18. In the domestic scenario, Indian stock market indices closed with significant losses as bears dominated Dalal Street in the late afternoon. Market analysts attribute the downturn to profit-taking and perceive the correction as long overdue due to the stretched valuations of mid- and small-cap stocks. The 30-share BSE Sensex plummeted by 930.88 points, or 1.30%, concluding at 70,506.31, while the NSE Nifty 50 finished 302.95 points, or 1.41%, lower at 21,150.15. Foreign institutional investors (FIIs) were net sellers in the equity market on Tuesday, disposing of shares worth ₹601.52 crore, as per exchange data.