Oct 17 2017

Rupee snaps 6-day gains on Fed chief speculations

Financial Market Overview

17th October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee was heading for its first fall in seven sessions against the dollar, as reports the U.S. President Donald Trump may consider a hawkish candidate to lead the Federal Reserve lifted U.S. Treasury yields, boosting greenback demand.
  • The rupee was last seen at 64.9425 to a dollar against 64.74 at close in the previous session. The local unit opened at 64.79, extending its decline to 64.95. The currency’s rise for a sixth session yesterday was its longest winning streak since Feb. 6.

Indian Equities:-

  • Benchmark indices turned negative in the afternoon, but the Nifty still traded above 10,200-levels.
  • The Sensex was down 38.68 points at 32594.96, while the Nifty was down 5.00 points at 10225.90. The market breadth was narrow as 1,239 shares advanced against a decline of 1,152 shares, while 116 shares were unchanged.
  • Bharti Airtel, Indiabulls Housing, BPCL and Hero MotoCorp gained the most on both indices, while Tata Steel, HDFC Bank and Religare Enterprises fell the most.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.38% and the Hang Seng rose 0.08%. The Shanghai Composite lost 0.19%.
  • European markets are lower today with shares in Germany off the most. The DAX is down 0.13% while London’s FTSE 100 is off 0.10% and France’s CAC 40 is lower by 0.01%.
  • The euro fell 0.2% overnight and was last trading down 0.3% amid political uncertainty in the region. While, British Pound Sterling was firm as investors awaited Bank of England Governor Mark Carney’s comments due later today.