Indian Rupee Traded Lower On Foreign Banks' Dollar Purchase

Indian Rupee Traded Lower On Foreign Banks' Dollar Purchase

09 Apr 2021 01:39 PM

Financial Market Overview

Indian Rupee

  • Indian rupee traded near its lowest level in more than 7 months at 74.86/74.87 compared to 74.59/74.60 in the previous session, on likely Dollar bids by large foreign banks although, suspected RBI intervention capped Rupee’s losses.
  • The benchmark 5.85% bond maturing in 2030 traded higher at 98.87 rupees, yielding 6.01%, compared to 98.68 rupees and 6.03% yield at the previous close, as the RBI included the benchmark note in its first operation under the government securities acquisition programme.

Indian Equities

  • The benchmark BSE Sensex and the broader NSE index traded little changed, as investors remained cautious amid the 2nd wave of coronavirus.
  • Hindustan Unilever, Sun Pharma and HDFC were among the top gainers, while L&T, HDFC Bank and ICICI Bank were among the top losers.

Global Markets

  • Asian markets traded mixed. Tokyo’s Nikkei 225 was up 0.2% at 29,768.06, Hong Kong’s Hang Seng Index fell 1.2% at 28,665.05 while Shanghai Composite dropped 0.9% at 3,450.68.
  • European markets trading lower. The pan-European STOXX 600 index inched down 0.1%, while UK's FTSE 100 fell 0.1% and Germany's DAX fell 0.2%.
  • On the Wall Street, the S&P 500 index rose 0.4% to 4,097.17, the Dow Jones Industrial Average gained 0.2%, to 33,503.57 and the Nasdaq composite climbed 1% to 13,829.31.
  • West Texas Intermediate fell 0.2% at $59.51 per barrel while the Brent crude fell 0.3% at $63.04 per barrel