Indian Rupee Closed At 4-Month Low After MPC's Announcement

Indian Rupee Closed At 4-Month Low After MPC's Announcement

07 Apr 2021 04:45 PM

Financial Market Overview

Indian Rupee

  • Indian rupee closed lower at 74.55/74.56 compared to 73.43/73.44 in the previous session, as RBI continued with its accommodative stance and introduced a bond purchase programme of 1trillion Rupees.
  • The benchmark 10-year bond yield closed lower at 6.05% after the RBI announced a 1trillion Rupees bind purchase programme.

Indian Equities

  • The BSE Sensex rose 0.94% and the NSE index was up 0.92% after the RBI kept interest rates unchanged and announced a bond purchase programme.
  • JSW Steel, GAIL and Wipro were among the top gainers.

Global Markets

  • Asian markets closed mixed. Japan’s Nikkei 225 was up 0.12%, China’s Shanghai Composite slipped 0.10% and Hong Kong’s Hang Seng Index was down 0.91%.
  • European markets are trading mixed. STOXX Europe 600 Index slipped 0.1%, the French CAC 40 Index rose 0.1%, and German’s DAX 30 slipped 0.1% while London's FTSE 100 rose 0.7%.
  • On the Wall Street, Dow Jones Industrial Average rose 21 points to 33,336.00 while the S&P 500 index futures rose 3.25 points at 4,067.25 and the Nasdaq 100 index rose 19.75 points to 13,589.75.
  • Brent crude futures rose 0.9% to $63.32 per barrel, while US WTI crude futures rose 0.8% to $59.81 a barrel