Oct 31 2017

Rupee stays higher on weak Dollar

Financial Market Overview

31st October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee extended gains against the dollar in afternoon trade, as demand for the greenback eased after the U.S. President Donald Trump’s previous campaign manager was charged with money laundering.
  • The rupee was last seen at 64.7450 to a dollar, against 64.85 at close yesterday. The currency has moved in 64.73-64.84 range so far today. Most Asian currencies were also trading higher, as investors await the Federal Reserve’s two-day policy meeting that starts later today and imminent selection of the head at the U.S. central bank.

Indian Equities:-

  • Benchmark indices continued to trade mildly lower, with rangebound move continuing through the first hour of the afternoon as well.
  • The Sensex was down 44.65 points at 33221.51, while the Nifty was down 23.30 points at 10340.35. The market breadth was narrow as 1,308 shares advanced against a decline of 1,158 shares, while 131 shares were unchanged.
  • Axis Bank and ONGC were the top gainers on both indices, while Infosys, Tata Steel, Vedanta and Hindalco lost the most.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.09%, while Hong Kong’s Hang Seng was off 0.32%. Shares in Japan were unchanged with the Nikkei 225 at 22,011.61.
  • European markets are higher today as French and British shares show gains. The CAC 40 is up 0.14% while the FTSE 100 is up 0.35%. The German DAX is closed.
  • The Japanese yen was last trading up 0.05% against the dollar. At its policy today, the Bank of Japan retained its pledge to keep short-term interest rates at minus 0.1% and yield target for 10-year Japanese government bonds around zero percent, in line with expectations even as it revised down its inflation forecast for the current financial year.