Markets News

Currency market closed on account of Chatrapati Shivaji Maharaj Jayanti

Indian currency market is said to remain close on account of Chatrapati Shivaji Maharaj Jayanti on February 19.

The Indian rupee however closed by 10 paisa above 72.65 per dollar against the previous close of Wednesday. Rupee closed the session at 72.75 per dollar on Wednesday.

The US dollar has however encountered with its biggest loss in the last 10 days on Friday. Moreover, the disappointing labour market data has ruined the market optimism of the country’s recovery.

However, with this, the gold prices also declined to the lowest in the last seven months on February 19. It is currently hovering at the worst week since the end of November 2020.

The increasing US Treasury yields have however worsened the non-yielding bullion’ appeal.

On the back of the prevailing rally, the oil prices slipped by 2 percent in early trade of Friday. It has added more to the overnight declines amid shut refineries in the US market.

Further, for a quick recap, the Sensex was also down by 379.14 points or it dropped by 0.73 percent to close at 51,324.69 levels.

The Nifty also closed the session at 15,119 levels with 88.90 points drop in the last session. Amid weak global cues on the domestic market witnessed selling pressure in the domestic market.

This event dragged the Nifty further below crucial level of 15,150 mark.


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