MUMBAI: India’s equity, currency and debt markets are closed on Friday, October 2, for a local holiday. Trading will resume on Monday, October 5.
The BSE Sensex was down 0.79 percent to 71,909.70 and the broader NSE index fell 0.88 percent to 22,421.95 on Thursday. The benchmarks posted their eighth straight weekly loss, the longest such streak in 25 years, as record foreign selling, crude prices near USD100 a barrel and a surge in global yields sent risk sentiment plunging.
The Indian rupee fell 0.5 percent to 96.3150 per dollar on Thursday, its weakest level in two months, as global bond yields surged to decadal highs and oil prices jumped, deepening pressure on the South Asian currency that was already hurt by foreign portfolio outflows.
The selloff in Indian government bonds deepened on Thursday, driving the 10-year bond to its worst week in seven.
The yield rose 3 bps to 7.2133 percent, hovering at a two-and-a-half-year high and up 9.5 bps for the week.