Money Changing
Oct 26 2017

Rupee steady on corporate, foreign banks bids

Financial Market Overview

26th October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee came off initial highs to trade little changed against the dollar in afternoon trade, as a large corporate entity, along with select foreign banks and importers stepped up greenback buys, offsetting a weak greenback.
  • The rupee was last seen at 64.86 to a dollar, against 64.89 at close yesterday. It had risen to 64.73 levels, the highest since Oct. 16, but has since then pared all gains to briefly slip lower to 64.9075 levels, on dollar purchases by a large engineering and construction firm.

Indian Equities:-

  • Equity benchmarks extended gains amid volatility in afternoon, with the Sensex hitting fresh record high of 33,151.26.
  • The 30-share BSE Sensex was up 84.36 points at 33,126.86 and the 50-share NSE Nifty rose 35.40 points to 10,330.80.
  • The NSE Midcap and Smallcap indices gained 0.7 percent each, outperforming benchmarks.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.31% and the Nikkei 225 rose 0.15%. The Hang Seng lost 0.36%.
  • European markets are higher today with shares in France leading the region. The CAC 40 is up 0.30% while London’s FTSE 100 is up 0.26% and Germany’s DAX is up 0.17%.
  • The euro was trading up 0.08% against the greenback ahead of the European Central Bank’s policy meeting later today. Given that Euro Zone economic recovery is underway, market participants expect the central bank to announce a roll back on stimulus programme though it could happen in phases given low inflation still remains a concern.