The foreign exchange and debt markets are closed on Tuesday on account of Chhatrapati Shivaji Jayanti, according to RBI’s official website- rbi.org.in. On Monday, the rupee had weakened by 11 paise to end 71.34 against the dollar amid firming crude oil prices and persistent foreign fund outflows. That marked the fourth straight session of loss for the domestic currency, during which it had depreciated by 64 paise.
Meanwhile, domestic stock markets are functioning as normal on Tuesday. The equity indices started the session on a mixed note, a day after the central bank approved an interim dividend of Rs. 28,000 crore to the government. The benchmark S&P BSE Sensex jumped as much as 199 points to 35,698 and the Nifty50 barometer of the National Stock Exchange (NSE) rose to 10,694, up 53 points from the previous close.
Asian shares hovered near four-month highs on Tuesday, supported by hopes that Sino-US trade talks were making progress and expectations of policy stimulus from central banks. MSCI’s broadest index of Asia-Pacific shares outside Japan was a shade firmer, while Japan’s Nikkei was almost flat.
On a net basis, domestic institutional investors were net buyers to the tune of Rs. 2,336.74 crore, while foreign institutional investors sold shares worth a net of Rs. 1,239.79 crore on Monday, provisional data available with BSE showed.