Rupee records marginal loss, Stock Markets down, Brent Crude oil rises
Mumbai, Sept 2: The Indian Rupee today recorded a marginal loss of 2 paise as it traded in a tight range and settled for the day at 94.97 (provisional) as the support from foreign capital inflows was negated by weak local equities and a strong US dollar.
Brent crude prices have risen to USD 95 per barrel and the dollar index is hovering around 99.80 on a bout of risk aversion on renewed US-Iran tensions.
Moreover, market participants have raised the probability of a hike in interest rates by the US Federal Reserve in September, pushing US Treasury yields higher and triggering a broad dollar rally.
Indian shares fell notably today to extend recent losses amid hawkish Federal Reserve expectations and escalating Middle East tensions.
The BSE Sensex falling 373.93 points (0.49%) to settle at 76,570.35 and the NSE Nifty 50 dropping 141.35 points (0.59%) to finish at 23,914.45. (BVI)
