Rupee Traded Lower Due To Dollar Demand By Importers

Rupee Traded Lower Due To Dollar Demand By Importers

10 Jul 2020 01:56 PM

Financial Market Overview

Indian Rupee

  • The Indian rupee extended its decline to the dollar and was at 75.2500/75.2600 against 74.9950/75.0050 in the previous session as dollar demand from importers added to the early fall stemming from a weak global risk appetite.
  • The benchmark 5.79% bond maturing in 2030 was higher at 100.22 rupees, yielding 5.76%, against 100.12 rupees, yielding 5.77% at previous close, as strong bidding for weekly debt sale boosted sentiment and as traders awaited the result.

Indian Equities

  • The benchmark NIFTY is down around 0.55% on the day, quoting at 10754.3. The Sensex is at 36530.84, down 0.56%. United Spirits Ltd has risen around 5.54% in last one month.
  • Meanwhile, Nifty FMCG index of which United Spirits Ltd is a constituent, has risen around 5.59% in last one month and is currently quoting at 30671.75, up 0.15% on the day. The volume in the stock stood at 15.86 lakh shares today, compared to the daily average of 39.6 lakh shares in last one month.

Global Markets

  • Japanese stocks were down by 0.58%. Shares in China fell 0.72% from a five-year high, the first decline in more than a week, as state media discouraged retail investors from chasing the market higher and worries about Sino-U.S. tensions re-emerged.
  • E-mini futures for the S&P 500 erased early gains to trade down 0.41%.
  • Euro Stoxx 50 futures were down 0.03%, German DAX futures were flat, while FTSE futures were down 0.03%, suggesting an lackluster start to European trading.
  • U.S. crude fell 1.01% to $39.22 a barrel, while Brent crude edged 0.78% lower to $42.02 per barrel due to concerns about a long-term decline in global energy demand.