Oct 10 2017

Rupee erases early gains on Dollar bids from foreign banks

Financial Market Overview

10th October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee gave up all of its initial gains to trade lower against the dollar in afternoon trade, as dollar purchases by foreign banks and importers offset early gains from corporate greenback sales.
  • The rupee was last seen at 65.31 to a dollar. It opened flat but appreciated immediately to the day’s high of 65.21, on dollar sales worth just below $50 million by a large energy conglomerate.

Indian Equities:-

  • Equity benchmarks maintained morning gains, with the Nifty holding psychological 10,000-mark on the back support from Reliance Industries, Infosys and HDFC Bank.
  • The 30-share BSE Sensex was up 56.43 points at 31,903.32 and the 50-share NSE Nifty rose 15 points to 10,003.75.

Global Markets:-

  • Asian markets finished higher today with shares in Japan leading the region. The Nikkei 225 is up 0.64% while Hong Kong’s Hang Seng is up 0.57% and China’s Shanghai Composite is up 0.26%.
  • European markets are mixed today. The FTSE 100 is up 0.06% while the CAC 40 gains 0.04%. The DAX is off 0.06%.