India Rupee Steady On Foreign Banks’ Dollar Sales; Shares Eyed

India Rupee Steady On Foreign Banks’ Dollar Sales; Shares Eyed

04 Jun 2020 01:25 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee was off lows at 75.49/75.50 to the dollar against 75.46/75.47 in the previous session, as foreign banks’ dollar sales trimmed early losses due to a yuan-led fall in Asian currencies amid rising Sino-US tensions.
  • The benchmark 6.45% bond maturing in 2029 was at 103.00 rupees, yielding 6.02%, against 102.95 rupees, yielding 6.03%, at the previous close, as investors awaited clarity on likely open market purchases by the central bank.

Indian Equities

  • Indian Benchmark NSE Nifty50 index was down 90.90 points at 9970.65, while the BSE Sensex was down 314.56 points at 33794.98.
  • Shares of Vodafone Idea, Trident Ltd, PNB, Bank of Baroda, SBI, Tata Motors, Tata Power, Ashok Leyland, Vedanta and ICICI Bank were among the most traded shares on the NSE.

Global Markets

  • Hong Kong's stock market fell 0.11%, hobbled by concerns about Beijing's new national security law for the former British colony. Elsewhere in Asia, Japanese shares rose 0.41% and South Korean stocks gained 0.28%.
  • Euro Stoxx 50 futures were down 0.03%, German DAX futures were up 0.17%, while FTSE futures were down 0.1%, suggesting a cautious start for European equities.
  • The yield on the benchmark 10-year eased slightly to 0.7475% in Asia on Thursday.
  • U.S. crude fell 2.04% to $36.53 a barrel. Brent crude fell 1.41% to $39.23 per barrel, having touched highs above $40 a barrel for the first time since early March.