Nov 06 2017

Rupee ends at 1-week low; Indian equities closed little changed after hitting record highs

Financial Market Overview

06th November, 2017

Evening Coffee:-                                                                                      

MARKETS AT CLOSE:-

Rupee:-

  • The Indian rupee fell to a near-one-week low against the dollar, as better-than-expected U.S. factory orders and services sector data helped reverse losses in the greenback, which was weighed down by an underwhelming jobs report.
  • The rupee settled at 64.6750 to a dollar, its lowest since Oct. 31, from 64.55 at close on Nov. 3. It moved in a narrow eight-paisa band today, but logged its biggest single-session decline since Oct. 27. Most other Asian currencies also fell.

Indian Equities:-

  • Indian shares ended nearly flat on Monday, after hitting record highs earlier in the session, as blue chips such as Bharti Airtel Ltd fell on profit-taking, though Tata Motors Ltd rallied on strong earnings expectations.
  • The BSE index rose 0.14 percent, ending at a record close of 33,731.19, having hit an intraday record earlier in the session.
  • The broader NSE index, which climbed to an all-time high of 10,490.45 in the session, ended 0.01 percent lower at 10,451.80.
  • Tata Motors, which is due to report quarterly results on Thursday, surged as much as 4.5 percent during the session to a three-month high.

Global Markets:-

  • European markets are lower today with shares in Germany off the most. The DAX is down 0.20% while France’s CAC 40 is off 0.19% and London’s FTSE 100 is lower by 0.09%.
  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.49% and the Nikkei 225 rose 0.04%. The Hang Seng lost 0.02%.
  • The dollar index, which measures the greenback against a basket of six major rivals, was last at 94.98, against previous close of 94.94. It ended 0.27% higher on Nov. 3, as strong U.S. services and factory data helped the greenback reverse initial losses. The greenback had declined as much as 0.3% earlier on Friday, after lower-than-expected U.S. monthly jobs report.
  • Crude oil prices rose to an over-two-year high, after crown prince of Saudi Arabia – the world’s largest exporter of crude oil – tightened his grip on power through an anti-corruption drive, which included high profile arrests of royals, ministers and investors. The benchmark Brent crude oil contract was last trading up 0.52% at $62.39 per barrel against $62.07 in the previous session.