Indian Rupee Closed Weaker Dragged By RBI's Bond Purchase Announcement

Indian Rupee Closed Weaker Dragged By RBI's Bond Purchase Announcement

09 Apr 2021 04:54 PM
 

Financial Market Overview

Indian Rupee

  • Indian rupee closed weaker at 74.735 compared to 74.59 in the previous session, dragged by RBI’s bond purchase announcement and fears of high inflation. The pair logged its worst week in 7 years.
  • The benchmark 5.85% bond maturing in 2030 closed higher 98.75 yielding 6.02% compared to 98.68 rupees and 6.03% yield at the previous close, as the RBI’s planned purchase of the benchmark note next week kept investors upbeat.

Indian Equities

  • The NSE Nifty 50 index closed 0.26% lower at 14,834.85, while the S&P BSE Sensex ended down 0.31% at 49,591.32.
  • Reliance and ICICI Bank were among the top losers.

Global Markets

  • Asian markets traded mixed. Japan’s Nikkei 225 was up by 0.20%, China’s Shanghai Composite dropped 0.92% and Hong Kong’s Hang Seng Index fell 1.07%.
  • European markets traded lower. STOXX Europe 600 Index fell 0.1%, French CAC 40 Index rose 0.2%, and German DAX 30 fell 0.2% while London's FTSE 100 dropped 0.4%.
  • On the Wall Street, Dow Jones Industrial Average futures rose 68 points to 33,458.00 while the S&P 500 index futures were up 3.75 points at 4,092.75 and the Nasdaq 100 index dropped 20.25 points to 13,727.50.
  • Brent crude futures dropped 0.5% to $62.87 per barrel, while US WTI crude futures were down 0.3% to $59.40 a barrel.