Rupee Closed at 75.7450 On Likely Foreign Fund Inflows

Rupee Closed at 75.7450 On Likely Foreign Fund Inflows

28 May 2020 04:24 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee was at 75.7450/75.7550 to the dollar, against 75.7150/75.7250 in the previous session, as likely foreign fund inflows offset the impact of a broad decline in regional currencies.
  • The benchmark 6.45% bond maturing in 2029 ended at 103.25 rupees, yielding 5.99%, against 103.29 rupees, yielding 5.98% at the previous close, as traders awaited fresh triggers and clarity on open market operations by the central bank.

Indian Equities

  • The Sensex ended 595.37 points - or 1.88 per cent - higher at 32,200.59, and the Nifty settled at 9,488.45, up 173.50 points - or 1.86 per cent - from its previous close.
  • In the 50-scrip Nifty index, 42 stocks moved higher for the day. Zee Entertainment, Eicher Motors, Larsen & Toubro, Hero MotoCorp and HDFC Bank - ending between 4.85 per cent and 9.58 per cent higher - were the top percentage gainers.

Global Markets

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 2.32% and the Shanghai Composite rose 0.33%. The Hang Seng lost 0.72%.
  • European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.55% while France's CAC 40 is up 0.49% and Germany's DAX is up 0.29%.
  • Yields on 10-year U.S. Treasuries rose slightly to 0.6966%. Although they are up from an all-time low of 0.4980% struck in March, they are still a whopping 120 basis points below highs seen in January.
  • U.S. crude futures fell 3.2% to $31.76 a barrel, while Brent crude fell 1.73% to $34.14 per barrel as investors fretted about Trump's response to China.