By Remitbee - Sep 18, 2020
On a day when most bourses in Asia ended with gains, the Indian equity markets surrendered their early gains to end in red on Friday, the last trading day of the week. The Indian currency, however, gained 21 paise against the American currency. The benchmark 10-year Indian government bonds still stayed above the 6% level.
Stock exchanges in Shanghai, Hong Kong, Seoul, and Tokyo ended with gains. Bourses in Europe, however, were trading with a negative bias.
In a volatile market, the U.S. stocks were trading lower. The rising cases of Coronavirus and persisting uncertainties over the economic recovery have combined to dampen the risk sentiment of the investors. Tech-related stocks have gone on a downhill course yet again.
At 11:27 a.m. ET, the Dow Jones Industrial Average was down 45.63 points, or 0.16%, at 27,856.35; the S&P 500 was down 15.74 points, or 0.47%, at 3,341.27; and the Nasdaq Composite was down 71.77 points, or 0.66%, at 10,838.51.
On the Indian front, equity benchmark Sensex ended 134 points lower on Friday, dragged by losses in financial stocks amid mixed global cues. After swinging 564.69 points during the day, the 30-share BSE index settled 134.03 points or 0.34 per cent lower at 38,845.82. The NSE Nifty fell 11.15 points or 0.10 per cent to finish at 11,504.95. Foreign institutional investors sold equities worth Rs 249.82 crore on a net basis on Thursday, exchange data showed.
On the foreign exchange trading front, market, the rupee strengthened by 21 paise to close at 73.45 against the U.S. dollar.
At the inter-bank forex market, the domestic unit opened at 73.47 against the U.S. dollar and finally settled for the day at 73.45, registering a rise of 21 paise over its previous close. During the session, the domestic unit witnessed an intra-day high of 73.15 and a low of 73.55 against the greenback. On Thursday, the rupee depreciated by 14 paise to end at 73.66 against the US dollar.
The yield on the 10-year government of India bond stood at 6.01 per cent on Friday i.e. September 18, according to over-the-counter inter-bank yield quotes for this government bond maturity.