Money Changing
Oct 13 2017

Rupee off highs on Dollar bids; Nifty hits fresh record high

Financial Market Overview

13th October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee came off a day’s high against the dollar in afternoon trading, as importers stepped up greenback purchases, eating into gains triggered by a broad weakness in the U.S. currency ahead of a key inflation data release in the world’s largest economy later today. Suspected intervention by the central bank also weighed on the rupee.
  • The rupee changed was last seen at 64.9050 to a dollar, against 65.08 at close yesterday. It had earlier risen to 64.8775, its highest since Sep. 25, amid greenback sales by at least one large U.S-based bank, but surrendered some gains on dollar purchases by at least two large state-run lenders, likely on behalf of the Reserve Bank of India.

Indian Equities:-

  • The market celebrated early Diwali at Dalal Street today as the 50-share NSE Nifty hit a fresh record high of 10,179.15, backed by banks. Earlier on September 19, the index had hit a record high of 10,178.95.
  • The Sensex was up 253.48 points or 0.79 percent at 32,435.70 and the Nifty rose 72.80 points or 0.72 percent to 10,169.20.

Global Markets:-

  • 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 0.05%.
  • European markets are mixed. The DAX is higher by 0.07%, while London’s FTSE 100 is off 0.40%. Shares in France are up 0.04% with the CAC 40 at 5,363.01.