MUMBAI: India’s equity, currency and debt markets will be closed on Friday, May 1, for a local holiday. Trading will resume on Monday, May 4.
The benchmark BSE Sensex was down 0.75 percent at 76,913.50 on Thursday, while the broader NSE Nifty 50 index declined 0.74 percent to 23,997.55, highlighting lingering fragility as surging oil prices and a weakening rupee hurt sentiment.
The Indian rupee dropped 0.07 percent versus the US dollar to a record low of 94.91, as investors fretted over the economic risks confronting India from a resurgence in crude oil prices to 2022 highs, threatening the inflation-economic growth balance for the net energy importer and sapping capital flows. The benchmark 10-year bond was quoted at 96.35 rupees, with the yield up 2.2 bps at 7.0148 percent, as surging oil prices and a hawkish US Federal Reserve pushed global yields higher.
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