India Rupee Traded Lower Tracking Yuan And Other Asian Currencies

India Rupee Traded Lower Tracking Yuan And Other Asian Currencies

04 Jun 2020 04:33 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee was at 75.5750/75.5850 to the dollar at 2:00 pm, against 75.46/75.47 in the previous session, tracking losses on the Chinese yuan and other Asian currencies after the U.S. banned Chinese passenger flights.
  • The benchmark 6.45% bond maturing in 2029 ended at 103.09 rupees, yielding 6.01%, against 102.95 rupees, yielding 6.03%, at the previous close, as investors anticipate open market note purchases by the central bank to absorb additional supply. Traders also awaited a weekly debt auction and minutes of the Monetary Policy Committee’s May meeting due tomorrow.

Indian Equities

  • The Sensex ended 128.84 points - or 0.38 per cent - lower at 33,980.70 and the Nifty settled at 10,029.10, down 32.45 points - or 0.32 per cent - from its previous close.
  • Seven of 11 sector gauges compiled by National Stock Exchange ended higher led by Nifty Media index's over 4 per cent gain. Nifty Pharma, IT and Metal indexes also rose 1-2 per cent each.

Global Markets

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.36%, while the Shanghai Composite led the Hang Seng lower. They fell 0.14% and 0.05% respectively.
  • European markets are lower today with shares in Germany off the most. The DAX is down 0.68% while France's CAC 40 is off 0.57% and London's FTSE 100 is lower by 0.29%.
  • The yield on the benchmark U.S. Treasury 10-year eased slightly after a 6 bps rise on Wednesday to 0.77%. It was the largest one day rise in rates since May 18, and the highest closing level since April 14.
  • U.S. crude fell 2% to $36.53 a barrel. Brent crude fell 1.4% to $39.23 per barrel, having touched highs above $40 a barrel for the first time since early March.