Nov 01 2017

Rupee extends gains on Dollar inflows

Financial Market Overview

01st November, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee extended gains against the dollar in afternoon trade, as exporters sold the greenback amid surge in foreign inflows into local corporate debt and equity markets.
  • The rupee was last seen at 64.5625 to a dollar, against 64.75 at close yesterday. It rose to the day’s high of 64.5150, highest since Sep. 21. Most Asian currencies were also trading higher, even while investors awaited the conclusion of the Federal Reserve’s two-day policy later today for further cues.

Indian Equities:-

  • Equity benchmarks continued to trade strong in afternoon after the World Bank raised India ranking to 100th place from 130th place in ease of doing business and India’s annual infrastructure output in September grew 5.2 percent from a year ago.
  • The 30-share BSE Sensex surged 400.08 points or 1.20 percent to 33,613.21 and the 50-share NSE Nifty gained 100.10 points or 0.97 percent at 10,435.40.

Global Markets:-

  • European markets are broadly higher today with shares in Germany leading the region. The DAX is up 0.87% while France’s CAC 40 is up 0.39% and London’s FTSE 100 is up 0.38%.
  • Asian markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 1.86% while Hong Kong’s Hang Seng is up 1.23% and China’s Shanghai Composite is up 0.08%.