RUPEE: The Indian rupee was off highs at 74.76/74.77 to the dollar against 75.15/75.16 in the previous session, as foreign banks’ dollar purchases amid a retreat in local shares trimmed early gains due to a slide in the dollar index.
STOCKS: The benchmark BSE Sensex and the broader NSE index were trading 0.8% and 0.2% lower, respectively, as traders booked profits after sharp rally in last two sessions and earlier today, as the country’s rate-setting panel cut key interest rate by 75 basis points to a record low and provided some moratorium on bank loans. HDFC Bank, Bharti Airtel and Reliance Industries led losses.
GOVERNMENT BONDS: The benchmark 6.45% bond maturing in 2029 was higher at 102.69 rupees, yielding 6.07%, against 101.60 rupees and 6.22% yield at previous close, as the MPC slashed repo rate by 75 bps to a record low of 4.40%, along with cut in cash reserve ratio of banks by 100 bps. The benchmark yield had briefly fallen below 6% to its lowest level since January 2009.
INTEREST RATE SWAPS: The one-year swap rate slumped 26 basis points to 4.20% against 4.46% at previous close, while the benchmark five-year rate plunged 37 bps at 4.74% against 5.11% in the previous session.
14 Jul 2020 09:16 AM
The dollar was marginally higher in narrow ranges against most currencies on Tuesday
14 Jul 2020 08:47 AM
The Indian rupee is expected to drop against the dollar tracking losses in regional equities
13 Jul 2020 04:57 PM
Indian shares ended higher on Monday, led by a rally in Reliance Industries, ahead of June's inflation data which investors bet would lead to further interest rate cuts by the central bank.
13 Jul 2020 02:43 PM
The Indian rupee was little changed against the greenback, amid focus on decline in the dollar index
13 Jul 2020 11:45 AM
Indian shares climbed on Monday, as investors bet June inflation data later in the day would lead to further interest rate cuts by the country's central bank, while Reliance Industries gained for a third session.
13 Jul 2020 11:15 AM
The yuan hovered around the key 7 per dollar threshold on Monday, ahead of economic data this week