Financial Markets in Several Countries Closed for Public Holidays; Indian Rupee Anticipated to Remain Steady

Financial Markets in Several Countries Closed for Public Holidays; Indian Rupee Anticipated to Remain Steady

VoM News Desk | December 26, 2023 | 01:12 PM IST | Breaking News | Follow on Google News

Financial Markets in Several Countries Closed for Public Holidays; Indian Rupee Anticipated to Remain Steady/Mint_Print

Financial Markets in Several Countries Closed for Public Holidays; Indian Rupee Anticipated to Remain Steady

Today, financial markets in Australia, Hong Kong, Indonesia, and New Zealand remain shuttered for public holidays. In this shortened trading week, the Indian rupee is poised to take its cues from Asian currencies and US Treasuries, potentially maintaining a stable range owing to the Christmas holiday’s reduced trading activity.

Closing last Friday at 83.14 against the dollar, the rupee showcased a 0.17% uptick, supported by the strength seen in Asian currencies and substantial dollar sales by major foreign banks. Simultaneously, the Nifty 50 surged by 0.44% to 21,349.40, while the S&P BSE Sensex added 0.34%, reaching 71,106.96.

Meanwhile, US stock markets exhibited mixed performances last Friday as investors prepared for the Christmas holiday weekend. The Dow Jones Industrial Average experienced a slight downturn of 0.05%, falling 18.38 points to settle at 37,385.97. Conversely, the S&P 500 edged up by 0.17%, recording a gain of 7.88 points at 4,754.63, and the Nasdaq Composite showed a rise of 0.19%, adding 29.11 points to reach 14,992.97.

This positive trend marked the longest streak of consecutive weekly gains for both the Nasdaq and the Dow since the start of 2019. The current market sentiments indicate a diverse landscape, with some markets celebrating holidays, while others navigate a relatively calm trading atmosphere amidst the ongoing festive season.

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.