India Rupee Stays Higher; Shares, Dollar Index Watched

India Rupee Stays Higher; Shares, Dollar Index Watched

21 May 2020 01:47 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee was at 75.71/75.72 to the dollar against 75.7925/75.8025 in the previous session as local shares gained.
  • The benchmark 6.45% bond maturing in 2029 was at 102.90 rupees, yielding 6.04%, against 102.89 rupees and 6.04% yield at the previous close, as traders waited for open market purchases from the central bank.

Indian Equities

  • BSE is trading up 287.48 points at 31,106.09 and Nifty is up 79.60 points at 9,146.15. The benchmark BSE Sensex was up 0.5%, adding to yesterdays near 2% jump.
  • The market breadth was strong. On the BSE, 1324 shares rose and 621 shares fell. A total of 144 shares were unchanged. In the Nifty 50 index, 35 shares advanced while 15 stocks declined.

Global Markets

  • Japan's Nikkei stock index slid 0.05% after data showed the country's exports collapsed in April. Shares in China fell 0.19% before the start of the annual parliament meeting on Friday.
  • Euro Stoxx 50 futures were down 1.02%, German DAX futures fell 0.92%, and FTSE futures were off 0.58%, pointing to a soft session in Europe.
  • The U.S. government auctioned $20 billion of 20-year debt on Wednesday for the first time since 1986. The 20-year yield eased slightly to 1.1549% in Asia, while the yield on benchmark 10-year Treasury notes fell to 0.6639% as traders sought the safety of government debt.
  • U.S. crude rose 1.79% to $34.09 a barrel, while Brent crude also rose 1.79% to $36.39 per barrel in a sign of easing concerns about a supply glut.