Indian markets closed, Asian stocks capped

NEW DELHI: Indian equity, forex, money and commodity markets are closed on Thursday on account of Dussehra.

Asian stocks were capped and the dollar rose to a one week-high in early Thursday trade after the minutes of the Federal Reserve’s latest meeting showed broad agreement among board members on the need to raise borrowing costs further, Reuters reported.

The spectre of rising US dollar yields, which along with global trade tensions were at the centre of last week’s global equities rout, kept riskier appetite in check in Asia. MSCI broadest index of Asia-Pacific shares outside Japan fell 0.2 per cent, while the Australian benchmark also dropped 0.2 per cent.

Japan's Nikkei average was flat, and appeared to struggle for headway

On Wall Street, stocks again slipped in Wednesday's session. The Dow Jones Industrial Average fell 45.48 points, or 0.18 per cent, to 25,752, the S&P500 gained 1.47 points, or 0.05 per cent, to 2,811 while the Nasdaq Composite dropped 0.99 points, or 0.01 per cent, to 7,644.

Back home, the equity benchmarks snapped their three-day winning streak on Wednesday, shedding over a per cent, as investors succumbed to profit-booking as debt default by realty firm raised fresh cloud of uncertainty over NBFCs.

BSE Sensex slipped below the 35,000 mark to close the day 382.90 points, or 1.09 per cent, lower at 34,779.58. The index had rallied over 400 points at the open. The 30-share index swung 878 points in intraday trade. NSE's Nifty index settled the day at 10,453.05, down 131.70 points, or 1.24 per cent.

The rupee surrendered all the gains made during the day and settled 13 paise lower at 73.61 against the US dollar Wednesday amid steady capital outflows and strengthening of the American currency.

Crude oil prices edged up on Thursday, steadying after a big drop overnight due to a jump in US crude stockpiles.

US WTI crude for October delivery rose 17 cents, or 0.2 per cent, at $69.92 a barrel, after falling 3 percent in the previous session to settle below $70 for the first time in a month. Front-month London Brent crude for December delivery gained 23 cents, or 0.3 per cent, to $80.28, having ended down 1.7 per cent.