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| MCX-SX June rupee futures ends sharply lower |
| Press Trust of India / Mumbai Jun 08, 2009, 19:55 IST |
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The MCX SX June Rupee futures ended sharply lower at 47.72 today on the back of weak local equity markets amid firm dollar overseas.
The rupee futures continued to trade with a weak bias and was at 47.72 at 4.00 pm. The BSE Sensex closed lower by 437 points at 14,666.
The rupee futures opened weak 47.38. The rupee moved lower as Asian currencies were trading weak. The Asian share markets too were trading in the flat to negative territory.
The MSCI index of Asian stocks outside Japan was 0.3 per cent lower, while the Nifty stock futures traded in Singapore were lower 0.3 per cent, however the local share market opened marginally up at 15,153, 50 points higher from the previous close. Crude and bullion prices trickled down based on better than expected employment data from US. Financial markets are already betting that the real economy will deliver and if it fails will lead to asset bubble.
Active MCX-SX INR June'09 futures closed at 47.72. Immediate supports are now around 47.30/40 followed by 46.90/47.00. Immediate resistance falls around 48.10/20 followed by 48.40/50 levels, a press release said here today.
The MCX-SX June'09 rupee futures registered an open interest of 1,46,563 for the session. It registered an increase in volume by 48.21 per cent over its earlier session.
The MCX-SX July'09 rupee futures closed towards 47.84.
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