Amidst the ongoing conflict involving Iran in the Gulf region, the Rupee hit an all-time low against the Dollar today—Friday—immediately upon the opening of the markets. The Rupee is currently trading at the level of 93.24 against the Dollar.
डॉलर से रुपया हुआ पस्त आई ऐतिहासिक गिरावट, पहली बार ₹93 के पार
As markets opened today, Friday, the Rupee hit an all-time low against the US Dollar, driven by the ongoing conflict involving Iran in the Gulf region. The Rupee is currently trading at the level of 93.24 against the Dollar. In the previous trading session, it had closed at 92.63. The currency market remained closed on March 19 due to a holiday.
Meanwhile, the stock market is witnessing a rally today, March 20. The Sensex has climbed 800 points (1.07%) to trade at 75,000. Similarly, the Nifty has surged 240 points (1.04%), reaching the level of 23,240. Banking and Auto stocks are seeing the highest buying activity today.
Decline in Private Bank Shares; Market Under Pressure
Shares of HDFC Bank—a leading private sector lender—came under pressure today. Investor anxiety heightened following the sudden resignation of the bank’s former Non-Executive Chairman, Atanu Chakraborty, causing the stock to weaken. In early trading on Friday, the bank’s shares fell 0.85 percent to trade at ₹791.
Mixed Trends in Asian Markets
- Asian stock markets witnessed mixed trends on Friday.
- Japan’s Nikkei 225 index fell by over 3 percent to reach 53,372.
- Singapore’s Straits Times index declined 0.26 percent to 4,954.
- Hong Kong’s Hang Seng index closed with a decline of 0.56 percent at 25,358.
- Conversely, some markets recorded gains: Taiwan’s Weighted Index rose 0.21 percent to reach 33,759, while South Korea’s KOSPI index climbed 0.55 percent to reach the level of 5,795.
Decline Continues in US Markets
The downward trend in US stock markets also continued on Thursday. The Dow Jones Industrial Average fell 0.44 percent to close at 46,021. The S&P 500 index dropped 0.27 percent to reach 6,606. The Nasdaq index declined 0.28 percent to close at 22,090.
Decline in Crude Oil; Selling by Foreign Investors
Weakness was also observed in the global oil market. The price of Brent crude oil fell 1.63 percent to $106.9 per barrel.
According to market data, Foreign Institutional Investors sold shares worth ₹7,558.19 crore on Thursday. Meanwhile, Domestic Institutional Investors purchased shares worth ₹3,863.96 crore.
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