Indian Rupee Closed Stronger Amid Focus On Higher Premiums

Indian Rupee Closed Stronger Amid Focus On Higher Premiums

04 May 2021 04:39 PM
 

Financial Market Overview

Indian Rupee

  • Indian rupee closed stronger at 73.85/73.86 compared to 73.92/73.93 in the previous session, with focus on a spike in near-term forward premiums. Rebounding Dollar index capped Rupee’s gains.
  • The benchmark 5.85% bond maturing in 2030 closed lower at 98.81 rupees, yielding 6.01%, compared to 98.91 rupees and 6.00% yield at the previous close, with investors anticipating RBI’s extended support.

Indian Equities

  • The BSE Sensex fell 0.95% and the NSE index dropped 0.94% pulled down by consolidation in Reliance Industries and HDFC Bank
  • Reliance Industries, HDFC Bank and Infosys were among the top losers.

Global Markets

  • Asian markets traded higher. Japan and China’s markets were closed for a holiday. Hong Kong’s Hang Seng Index rose 0.7%.
  • European markets were trading higher. STOXX Europe 600 Index slipped 0.1%, French CAC 40 Index climbed 0.2%, and German DAX 30 fell 0.6% while London’s FTSE 100 gained 0.5%.
  • On the Wall Street, Dow Jones Industrial Average futures rose 13 points to 34,021.00 while the S&P 500 index futures declined 3.25 points at 4,182.50 and the Nasdaq 100 index futures dropped 33 points to 13,757.00.
  • Brent crude futures rose 1.1% to trade at $68.32 per barrel, while US WTI crude futures rose 1.1% to trade at $65.18 a barrel.