Indian Rupee Traded Stronger On Foreign Banks's Dollar Sales

Indian Rupee Traded Stronger On Foreign Banks's Dollar Sales

04 May 2021 01:35 PM

Financial Market Overview

Indian Rupee

  • Indian rupee traded higher at 73.82/73.83 compared to 73.92/73.93 in the previous session, on foreign banks’ dollar sales and rebounding Equities.
  • The benchmark 5.85% bond maturing in 2030 was little changed at 98.90 rupees, yielding 6.00%, compared to 98.91 rupees and 6.00% yield at the previous close, as traders anticipated the result of the state debt sale for fresh cues.

Indian Equities

  • The benchmark BSE Sensex and the broader NSE index were trading 0.23% and 0.22% higher, respectively, supported by financial stocks.
  • Bajaj Finance, ICICI Bank and State Bank of India were among the top gainers.

Global Markets

  • Asian markets are trading higher. Hong Kong’s Hang Seng Index rose 0.5% at 28,500.95. China and Japan’s markets were closed for a holiday.
  • European markets are trading mixed. Germany’s DAX fell 0.53% at 15,157.48, France’s CAC 40 rose 0.09% to 6,313.17 and UK’s FTSE was 0.60% higher at 7012.10.
  • On the Wall Street, the S&P 500 closed at 4,192.66, Dow Jones Industrial Average added 0.7% to 34,113.23 and the Nasdaq fell 0.5% to 13,895.12.
  • US crude fell 8 cents to $64.41 a barrel while the Brent crude declined 10 cents to $67.46 a barrel.