Currency

Money markets shut today on account of Gudi Pawa

Updated : March 25, 2020 09:42 AM IST

Asian shares, meanwhile, extended their rally on Wednesday in the wake of Wall Street's massive rebound.

On Tuesday, the rupee had gained 26 paise to settled at 75.94 (provisional) against the US dollar after Finance Minister Nirmala Sitharaman said the government is working on an economic package to deal with the coronavirus crisis.

Forex and money markets are closed on Wednesday on account of Gudi Pawa. However, BSE and bullion markets are open as usual.

Besides, foreign Institutional Investors (FIIs) sold shares worth net Rs 2,153.35 crore, while Domestic Institutional Investors (DIIs) bought net Rs 1,553.66 crore worth of shares, as per provisional data available on the NSE.

Asian shares, meanwhile, extended their rally on Wednesday in the wake of Wall Street's massive rebound as the US Congress appeared closer to passing a $2 trillion stimulus package to mitigate the economic blow from the coronavirus pandemic.

Oil prices also bounced back. India, the world's third largest oil consumer, ordered its 1.3 billion residents to stay home for three weeks, the latest big fuel user to announce restrictions on social movement, which have destroyed demand for gasoline and jet fuel worldwide.

(With inputs from agencies)