Stock Market Update: The benchmark Sensex of the BSE reached a new peak on Monday, surpassing the 70,000 threshold for the first time ever. Bank stocks drove the 30-pack index’s rally. During today’s session, the Nifty50 reached a new all-time high and was trading above the 21,000 mark. The benchmark Nifty and Sensex were underperformed by broader market indices. In the meantime, today’s session saw an almost 4% increase in the India VIX, indicating strong volatility.
Indian government bond yields rose
The benchmark yield on Indian government bonds increased on Monday, approaching 7.30%. This was in line with the gains seen in U.S. Treasury yields, which saw a rise following the trimming of bets on interest rate cuts in the largest economy in the world due to better-than-expected economic data. As of 10:00 a.m. IST on Monday, the yield on the benchmark 10-year bond was 7.2822%, having closed the previous session at 7.2697%.
Stock Market Update: Rupee falls; Tokyo stocks opened higher
The Reserve Bank of India kept its forecast for inflation for the current fiscal year at 5.4%, which caused the rupee to drop 4 paise to close at 83.40 against the US dollar on Friday. Monday saw a higher opening for Tokyo stocks after Wall Street saw a boost late last week due to optimism about the US economy.Early trading saw a 1.23 percent increase, or 396.32 points, in the benchmark Nikkei 225 index at 32,704.18, while the Topix index as a whole gained 0.93 percent, or 21.54 points, to 2,346.01.
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