Oct 16 2017

Rupee off high on likely RBI intervention

Financial Market Overview

16th October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee came off an over three-week high against the dollar in afternoon trading, as the central bank likely intervened to moderate the gains triggered by the nation’s trade gap narrowing last month and slower price gains in the U.S.
  • The rupee was last seen at 64.73 to a dollar, against 64.93 at close on Oct. 13. The currency had risen to a day’s high of 64.6950 to a dollar, its highest since Sep. 21, before surrendering some gains after at least two state-run banks bought dollars apparently on behalf of the Reserve Bank of India. Most Asian currencies were also rose.

Indian Equities:-

  • Equity benchmarks continued to trade higher in afternoon, with the Sensex rising 197.20 points to 32,629.89.
  • The 50-share NSE Nifty rose 59.90 points to 10,227.35 while the Nifty Midcap and Smallcap indices traded flat.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.76% and the Nikkei 225 rose 0.47%. The Shanghai Composite lost 0.36%.
  • European markets are higher today with shares in France leading the region. The CAC 40 is up 0.26% while Germany’s DAX is up 0.17% and London’s FTSE 100 is up 0.07%.