Rupee Traded Higher Tracking An uptick in local shares

Rupee Traded Higher Tracking An uptick in local shares

13 Jul 2020 02:16 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee was at 75.1275/75.1375 to the dollar against 75.2000/75.2100 in the previous session, tracking an uptick in local shares and a broad decline in the dollar index ahead of a slew of economic data releases.
  • The benchmark 5.79% bond maturing in 2030 was at 100.10 rupees, yielding 5.78%, against 100.21 rupees, and a 5.76% yield at the previous close, as traders booked profits after last week’s rally. Investors awaited June's headline retail inflation data due today.

Indian Equities

  • The benchmark nifty is up around 0.42% on the day quoting at 10812.85. Sensex is at 36643.03, up 0.13%.
  • Rally in index heavyweights Reliance Industries, Infosys, Tech Mahindra, among others lent support while financials such as HDFC twins and Bajaj Finance were the top index losers. 

Global Markets

  • MSCI's broadest index of Asia-Pacific shares outside Japan added 1.2%, having climbed sharply last week on the back of surging Chinese stocks, which jumped another 2.3% on Monday. Japan's Nikkei gained 2% and South Korea..
  • E-Mini futures for the S&P 500 rose 0.64% even as some U.S. states reported record new cases of COVID-19, a divergence that shows no sign of stopping.
  • EUROSTOXX 50 futures added 1.5% and FTSE futures 1.2%.
  • Oil prices eased in early trade, although that followed a sharp rise on Friday when the International Energy Agency (IEA) bumped up its 2020 demand forecast. Brent crude futures dipped 22 cents to $43.02 a barrel, while U.S. crude lost 24 cents to $40.31.