India Rupee Traded Lower On Risk Aversion; Sensex Tanks 5%

India Rupee Traded Lower On Risk Aversion; Sensex Tanks 5%

30 Mar 2020 05:22 PM

Financial Market Overview

Indian Rupee

  • The rupee was quoted at 75.61 to the dollar, compared with 74.85 at 5.00 pm on Mar. 27. Month-end dollar demand from importers also led to a further decline in the local unit, traders said.
  • The Indian rupee fell for the first time in four sessions against the dollar on heightened regional risk aversion as the number of coronavirus cases grew worldwide.

Indian Equities

  • S&P BSE Sensex ended 4.6 per cent or 1,375 points lower at 28,440, while the broader Nifty 50 index finished 370 points or 4.28 per cent at 8,289.
  • Nestle India climbs 4.5%-Six stocks out of 30 Sensex stocks settled in a positive territory today, with Nestle India as the top gainer, up 4.49 per cent, followed by Tech Mahindra, Axis Bank and HUL.

Global Markets

  • Asian markets finished broadly lower today with shares in Japan leading the region. The Nikkei 225 is down 1.57% while Hong Kong's Hang Seng is off 1.49% and China's Shanghai Composite is lower by 0.90%.
  • In Europe, shares listed in the Travel and Leisure sector have lost over 45% year to date, which constitutes by far the worst performance. At the time of writing, three sectors have clearly being singled out by investors: autos with a ytd 40% fall, banks with 38.8% and oil and gas down 37.6%.
  • European government bond yields dipping and those at the very short end of the U.S. Treasury curve turning negative. Those on 10-year notes dropped a steep 26 basis points last week and were last standing at 0.68%.
  • Brent futures were down 8%, or $2, at $22.50 a barrel - their lowest for 18 years. U.S. West Texas Intermediate (WTI) crude futures fell as far as $19.92, near a 2002 low hit this month.