There was a marginal decrease in the value of the rupee against the strengthening US dollar. The rupee fell by 0.397% from yesterday and ended at 75.14. It ranged between the highest of 75.38 and lowest at 75.13.
USD/INR- Crude Oil Prices Gain
There was a marginal gain in the crude oil prices today. The fall in US crude oil inventories is the primary cause for this. According to the American Petroleum Institute, the US inventories fell by about 8.3 million barrels. OPEC and its allies are meeting later today to discuss further easing output restrictions. The verdict is highly anticipated and will have a marked impact on oil prices. WTI crude futures gained 38 cents and increased to USD 40.67 per barrel. Brent crude futures, on the other hand, are at USD 43.25 with a gain of 35 cents.
USD/ INR- Marginal Reduction in Gold Prices
There has been a surge in the COVID-19 cases in India, making it the third most infected country in the world. And, this has led to panic among investors. Currently, gold is the go-to metal for traders and will remain so until the pandemic eases. According to HDFC securities, gold prices fell by Rs.114 and is currently at Rs. 49,996 per 10 grams in New Delhi.
At the end of that day, 18 out of the 30 Sensex stocks ended in the red. There was a late sell-off of RIL that caused the Sensex to slip 758 points from highs to ended up 19 points higher at 36,052. HCL, TCS and Infosys were the top index gainers today. And, Bharthi Airtel, RIL and ONGC were the top index losers.