India Rupee Trader Higher On Foreign Banks’ Dollar Sales, Corporate Inflows

India Rupee Trader Higher On Foreign Banks’ Dollar Sales, Corporate Inflows

26 Feb 2020 05:18 PM
 

Financial Market Overview

Indian Rupee

  • The Indian rupee gained against the dollar on greenback sales by foreign banks amid anticipated corporate dollar inflows, which helped counter floundering risk appetite.
  • The rupee was last quoting at 71.66 to the dollar, against 71.88 at 5.00 pm yesterday.

Indian Equities

  • The NSE, the Nifty50 index closed the session at 11,678.5, down 119 points or 1 percent with 44 out of 50 stocks ending in the red and just 6 in the green.
  • The S&P BSE Sensex ended below the crucial psychological level of 40,000 at 39,889, down 392 points or around a percent. Reliance Industries (RIL), Infosys, ICICI Bank, and HDFC contributed the most to the index's decline.

Global Markets

  • Asian markets finished lower today with shares in China leading the region. The Shanghai Composite is down 0.83% while Japan's Nikkei 225 is off 0.79% and Hong Kong's Hang Seng is lower by 0.73%.
  • European markets are broadly lower today with shares in Germany off the most. The DAX is down 1.54% while France's CAC 40 is off 1.11% and London's FTSE 100 is lower by 0.79%.
  • Against a basket of its rivals, the dollar edged 0.1% higher at 99.04, recovering from a two-week low of 98.876 hits in the previous session.
  • Crude prices fell for the fourth consecutive session today, with the benchmark Brent contract trading 1.3% lower at $54.23 per barrel.