The Indian bonds and money markets were closed on Wednesday on account of Id-Ul-Fitr
The Indian currency snapped two days’ rally on the strong dollar against its major peers. The rupee fell by 19 paise to 69.45/$ in opening trade ahead of the Reserve Bank of India's monetary policy decision. The Indian bonds and money markets were closed on Wednesday on account of Id-Ul-Fitr.
The bond yield fell as crude oil continued to slide on easing concerns about inflation and government's finances. The 10-year bond yield was at 7.002% compared with Tuesday's close of 7.02%.
On the economy front, the seasonally adjusted Nikkei India Services Business Activity Index fell to 50.2 in May, from 51 in April. Indian services activity increased to a weaker extent in May, as disruptions arising from the elections in the earlier part of the month hampered the growth of new work intakes.
Meanwhile, equity benchmark indices slipped sharply in the opening trades as Nifty cracks below the 12,000 psychological mark. The Sensex declining 148 points at 39,935 levels and the Nifty also dropped 60 points to trade at 11,961 levels.
The bond yield fell as crude oil continued to slide on easing concerns about inflation and government's finances. The 10-year bond yield was at 7.002% compared with Tuesday's close of 7.02%.
On the economy front, the seasonally adjusted Nikkei India Services Business Activity Index fell to 50.2 in May, from 51 in April. Indian services activity increased to a weaker extent in May, as disruptions arising from the elections in the earlier part of the month hampered the growth of new work intakes.
Meanwhile, equity benchmark indices slipped sharply in the opening trades as Nifty cracks below the 12,000 psychological mark. The Sensex declining 148 points at 39,935 levels and the Nifty also dropped 60 points to trade at 11,961 levels.
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