Indian Rupee Traded Weaker As RBI Intervened

Indian Rupee Traded Weaker As RBI Intervened

03 Dec 2020 01:37 PM

Financial Market Overview

Indian Rupee

  • Indian rupee was trading weaker at 73.92/ 73.93, compared to 73.80/ 73.81 in the previous session, as persistent Dollar bids by state-run banks, likely on behalf of the RBI offset the impact of a declining dollar index.
  • The benchmark 5.77% bond maturing in 2030 was trading lower at 98.81 rupees, yielding 5.93%, compared to 98.89 rupees and 5.92% at previous close, ahead of the monetary policy decision and commentary from the authority tomorrow.

Indian Equities

  • The benchmark BSE Sensex was 0.18% higher and NSE index was trading 0.24% higher as risk sentiment firmed up on developments over U.S. fiscal stimulus package as well as optimistic vaccine news.
  • Maruti Suzuki, Reliance Industries and State Bank of India were among the top gainers.

Global Markets

  • Asian equities were mixed after a turbulent day of Wall Street trade amid disappointing U.S. jobs report. Japan's Nikkei was unchanged. Chinese shares traded slightly lower, with the blue-chip CSI300 index down 0.2%.
  • Eurostoxx 50 futures were down 0.1%, Germany's Dax futures eased 0.2% and London's FTSE futures fell 0.4%.
  • Wall Street was mixed overnight but eventually ended slightly firmer. The Dow Jones and the S&P 500 gained 0.2% each while Nasdaq had little movement.
  • Brent crude was down 9 cents at $48.16 a barrel while U.S. light crude eased 14 cents to $45.14.