Indian Rupee Closed Lower For 6th Consecutive Day

Indian Rupee Closed Lower For 6th Consecutive Day

12 Apr 2021 04:54 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee dropped for the sixth consecutive session and was at 75.06/75.07 to the dollar against 74.7350/74.7450 in the previous session, as a relentless rise in local coronavirus cases intensified fears of a delay in economic recovery.
  • The benchmark 5.85% bond maturing in 2030 closed slightly higher at 98.83 rupees, yielding 6.01%, against 98.78 rupees and 6.02% yield at the previous close, as investors stayed on the sidelines amid a worrying rise in Covid-19 cases that pushed stocks and the rupee lower.

Indian Equities

  • The benchmark BSE Sensex and the broader NSE index jumped 3.44% and 3.53%, respectively, booking their biggest single session fall since Feb. 26, as surging coronavirus infections and more localised lockdowns triggered worries about economic recovery. The indices closed at their lowest levels in over two months.
  • Index heavyweight Reliance Industries led the losses, while financial stocks HDFC Bank and ICICI Bank also settled in red.

Global Markets

  • Asian markets closed mixed as of the most recent closing prices. The Shanghai Composite gained 1.14%, while the Nikkei 225 led the Hang Seng lower. They fell 2.07% and 0.27% respectively.
  • European markets are mixed. The DAX is higher by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.43% and 0.07% respectively.
  • On the Wall Street, the S&P 500 climbed 0.8% for its fourth record high this week, at 4,128.80. The Dow gained 0.9% to 33,800.60, while the Nasdaq composite picked up 0.5%, to 13,900.19.
  • US Brent crude, the international oil benchmark, rose 0.5 per cent to $63.28 a barrel.