Rupee Lower Tracking Yuan’s Tumble, Virus Woes

Rupee Lower Tracking Yuan’s Tumble, Virus Woes

18 Feb 2020 05:20 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee fell against the dollar, tracking a decline in the Chinese yuan beyond the key seven-per-dollar mark amid lingering concerns over the economic impact of the coronavirus outbreak.
  • The rupee was last quoted at 71.56 at 5 p.m., against 71.29 yesterday.

Indian Equities

  • The broader Nifty 50 index closed below 12,000-mark at 11,992 points, down 53 points or 0.44 per cent while S&P BSE Sensex witnessed a sharp recovery in the last hour of the trade to end 161 points or 0.39 per cent lower at 40,894 points.
  • Index heavyweights such as HDFC, RIL, Bharti Airtel, Maruti, and IndusInd Bank were among the major contributors towards today’s fall. At the index level, SBI was the top gainer, up 1.08 per cent.

Global Markets

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.05%, while the Hang Seng led the Nikkei 225 lower. They fell by 1.47% and 1.40% respectively.
  • European markets are lower today with shares in London off the most. The FTSE 100 is down 0.68% while Germany's DAX is off 0.62% and France's CAC 40 is lower by 0.34%.
  • S&P 500 e-mini futures slipped 0.4 per cent and Nasdaq futures fell 0.6 per cent.
  • Brent crude was down $1.02 at $56.65 a barrel after rallying in the previous five sessions. U.S. West Texas Intermediate crude fell 82 cents to $51.23.