Indian Rupee Closed Weaker In A Thin-Volume Trade Session

Indian Rupee Closed Weaker In A Thin-Volume Trade Session

08 Apr 2021 04:40 PM

Financial Market Overview

Indian Rupee

  • Indian rupee closed weaker at 74.59/74.60 compared to 73.55/73.56 in the previous session following RBI’s bond buying plan and thin-volume trade. A glitch in the Eikon platform disrupted volumes towards the end of the session.
  • The benchmark 5.85% bond maturing in 2030 closed higher at 98.68 rupees, yielding 6.03%, compared to 98.32 rupees and 6.08% yield at the previous close, amid improved risk appetite after RBI’s announcement of a bond buying plan to support the economy.

Indian Equities

  • The benchmark BSE Sensex was up 0.17% and the NSE index rose 0.37% amid bullish sentiment after the RBI pledged to keep monetary policy accommodative to sustain growth.
  • Tata Consultancy Services and Infosys were among the top gainers.

Global Markets

  • Asian markets closed mixed. Tokyo’s Nikkei 225 fell 0.1% at 29,708.98, Hong Kong’s Hang Seng Index rose 1.2% at 29,008.07 and Shanghai Composite was up 0.1% at 3,482.55.
  • European markets are trading mixed. The DAX is up by 0.06%, while the CAC 40 is leading the FTSE 100 lower. They fell 0.43% and 0.07% respectively.
  • On the Wall Street, S&P 500 futures rose 0.3%, Nasdaq-100 futures jumped 1% and Dow Jones Industrial Average futures traded flat.
  • Brent crude fell 0.35% to $62.98 a barrel and WTI crude dropped 0.54% to $59.44 a barrel.