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India s rupee on Monday plunged below 75 against the U.S. dollar for the first time in eight months amid a rapid increase in second-wave of coronavirus cases, while concerns over rising U.S. bond yields hurt broader emerging Asian markets.
Weighing on the region s markets were expectations of a further rise in U.S. yields on a likely strong reading for U.S. consumer inflation for March, on the heels of a more-than-expected rise in U.S. producer prices.
The rupee weakened as much as 0.5 per cent to 75.138, its lowest since August last year, before recovering to 74.870, as record cases and a possible lockdown in the western state of Maharashtra, home to Mumbai, hurt sentiment.
Read more about SMC Global Securities lists equity shares on NSE, BSE: Details here on Business Standard. "The shares got listed at Rs 90.90 on NSE and Rs 91.60 on BSE," SMC Global Securities said in a release
Overall large private sector banks are likely to continue outperforming their mid and small size peers and also public sector counter parts due to their cost efficiencies. Banks may also use their provisions kept against covid-19 impact during the first half of the fiscal.