Indian Rupee Closed Stronger Tracking A Declining Dollar

Indian Rupee Closed Stronger Tracking A Declining Dollar

10 May 2021 04:56 PM

Financial Market Overview

Indian Rupee

  • Indian rupee closed higher at 73.35/73.36 compared to 73.51/73.52 in the previous session, tracking a declining Dollar after weaker-than-expected US jobs data.
  • The benchmark 5.85% bond maturing in 2030 closed little changed at 98.82 rupees, yielding 6.01%, compared to 98.81 rupees and 6.02% yield at the previous close, as traders anticipated details of the RBI’s next debt purchase.

Indian Equities

  • The BSE Sensex rose 0.60% and the NSE index rose 0.80% amid upbeat sentiment after weak US jobs report increased bets that the Fed may continue with the current pace of bond purchases for longer.
  • Larsen & Toubro, HDFC and ICICI Bank were among the top gainers.

Global Markets

  • Asian markets traded mixed. Japan’s Nikkei 225 gained 0.55%, while China’s Shanghai Composite rose 0.27% and Hong Kong’s Hang Seng Index fell 0.05%.
  • European markets were trading mixed. STOXX Europe 600 Index rose 0.1%, French CAC 40 Index fell 0.1%, and German DAX 30 fell 0.1% while London’s FTSE 100 gained 0.3%.
  • On the Wall Street, Dow Jones Industrial Average futures rose 64 points to 34,750.00 while the S&P 500 index futures gained 0.25 points at 4,225.50 and the Nasdaq 100 index futures fell 40 points to 13,669.75.
  • Brent crude futures rose 0.6% to trade at $68.67 per barrel, while US WTI crude futures rose 0.5% to trade at $65.23.