Oct 13 2017

Rupee ends higher, Nifty scales new peak

Financial Market Overview

13th October, 2017

Evening Coffee:-                                                                                      

MARKETS AT CLOSE:-

Rupee:-

  • The rupee settled at 64.9275 to a dollar, its highest since Sep. 22 and against 65.08 at the previous close. It had earlier risen to 64.8775 amid greenback sales by foreign banks. However, it surrendered some gains on dollar purchases by at least two large state-run lenders, likely on behalf of the Reserve Bank of India and importers. Most other Asian currencies also traded higher
  • India’s foreign exchange reserves fell to $398.79 billion as of Oct 6, compared with $399.66 billion a week earlier, the Reserve Bank of India said today.

Indian Equities:-

  • The Nifty 50 ended at fresh record closing high on Friday as investors cheered macro data, earnings and telcos deals. The rally was driven by banks, telecom and metals stocks, and Reliance Industries. But the broader markets underperformed benchmarks, ending flat.
  • The 50-share NSE Nifty rose 71.10 points or 0.70 percent to 10,167.50, after hitting a fresh record high of 10,191.90 intraday.
  • The 30-share BSE Sensex rallied 250.47 points or 0.78 percent to 32,432.69 despite weak market breadth. The index is still 254 points away from its record high of 32,686.48 hit on August 2. About 1,428 shares declined against 1,297 advancing shares on the BSE.

Global Markets:-

  • European markets are mixed today. The DAX is up 0.13% while the CAC 40 gains 0.05%. The FTSE 100 is off 0.19%.
  • Asian markets finished higher today with shares in Japan leading the region. The Nikkei 225 is up 0.96% while China’s Shanghai Composite is up 0.13% and Hong Kong’s Hang Seng is up 0.06%.
  • The dollar index, which measures the greenback against a basket of six major rivals, was last trading steady and was heading for a first weekly loss in five weeks. Investors now await the U.S. consumer price data for September, due later today, along with the September retail sales and October University of Michigan sentiment preliminary.