Indian Rupee Closed Stronger Amid IPO Related Inflows

Indian Rupee Closed Stronger Amid IPO Related Inflows

03 May 2021 04:36 PM

Financial Market Overview

Indian Rupee

  • Indian rupee closed stronger at 73.92/73.93 compared to 74.06/74.07 in the previous session, as Dollar selling by exporters and IPO related inflows offset weak Asian peers.
  • The benchmark 5.85% bond maturing in 2030 closed higher at 98.91 rupees, yielding 6.00%, compared to 98.70 rupees and 6.03% yield at the previous close, as traders bet on further support from RBI.

Indian Equities

  • The BSE Sensex fell 0.13%, while the NSE index was little changed, as surging coronavirus cases and weak Global peers weighed on the sentiment.
  • Reliance Industries, Kotak Mahindra Bank and Axis Bank were among the top losers.

Global Markets

  • Asian markets traded lower. Japan and China’s markets were closed for a holiday. Hong Kong’s Hang Seng Index fell 1.28%.
  • European markets were trading higher. STOXX Europe 600 Index gained 0.2%, French CAC 40 Index climbed 0.2%, and German DAX 30 rose 0.4% while UK’s markets were closed for May Day holiday.
  • On the Wall Street, Dow Jones Industrial Average futures climbed 184 points to 33,951.00 while the S&P 500 index futures gained 18.75 points at 4,193.25 and the Nasdaq 100 index futures rose 25.75 points to 13,875.75.
  • Brent crude futures rose 0.1% to trade at $66.85 per barrel, while US WTI crude futures rose 0.3% to trade at $63.79 a barrel.