RUPEE: The Indian rupee was off highs at 74.76/74.77 to the dollar against 75.15/75.16 in the previous session, as foreign banks’ dollar purchases amid a retreat in local shares trimmed early gains due to a slide in the dollar index.
STOCKS: The benchmark BSE Sensex and the broader NSE index were trading 0.8% and 0.2% lower, respectively, as traders booked profits after sharp rally in last two sessions and earlier today, as the country’s rate-setting panel cut key interest rate by 75 basis points to a record low and provided some moratorium on bank loans. HDFC Bank, Bharti Airtel and Reliance Industries led losses.
GOVERNMENT BONDS: The benchmark 6.45% bond maturing in 2029 was higher at 102.69 rupees, yielding 6.07%, against 101.60 rupees and 6.22% yield at previous close, as the MPC slashed repo rate by 75 bps to a record low of 4.40%, along with cut in cash reserve ratio of banks by 100 bps. The benchmark yield had briefly fallen below 6% to its lowest level since January 2009.
INTEREST RATE SWAPS: The one-year swap rate slumped 26 basis points to 4.20% against 4.46% at previous close, while the benchmark five-year rate plunged 37 bps at 4.74% against 5.11% in the previous session.
03 Jun 2020 11:45 AM
Indian shares extended gains for a sixth session and the Nifty crossed the 10,000 mark for the first time since March 13, as Asia's third-largest economy gradually comes out of COVID-19 lockdowns and risk appetite picks up in global markets.
03 Jun 2020 11:16 AM
The yuan took a breather on Wednesday after strengthening against the dollar for four straight days
03 Jun 2020 10:45 AM
Gold traded steady on Wednesday after snapping a three-session winning streak in the previous day, as a rally in equity markets on hopes of more stimulus offset some support from a weaker dollar.
03 Jun 2020 10:32 AM
Indian rupee hit the highest level in five weeks and was at 75.23/75.24 to the dollar against 75.3625/75.3725 in the previous session
03 Jun 2020 09:45 AM
Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic.
03 Jun 2020 09:15 AM
The dollar fell against most Asian currencies on Wednesday as prospects of more government stimulus and a global economic recovery emboldened investors