Nov 09 2017

Rupee ends steady as Importer bids offset weak Dollar

Financial Market Overview

09th November, 2017

Evening Coffee:-                                                                                      

MARKETS AT CLOSE:-

Rupee:-

  • The Indian rupee was little changed against the dollar, as greenback purchases by importers offset initial gains from a weak dollar amid concerns over a likely delay in passage of the U.S. tax reform bill.
  • The rupee ended at 64.9350 to a dollar against 64.95 at close yesterday. It briefly hit an intraday high of 64.85 before paring most gains. Other Asian currencies ended mixed against the dollar.

Indian Equities:-

  • Indian shares ended marginally higher on Thursday, led by gains in oil refiners such as Reliance Industries Ltd as oil prices stabilised and financial stocks such as ICICI Bank Ltd.
  • The broader NSE index closed 0.06 percent higher at 10,308.95, while the benchmark BSE index ended 0.1 percent up at 33,250.93.
  • Reliance Industries closed 1.4 percent higher, while ICICI Bank gained 1.9 percent.

Global Markets:-

  • European markets are lower today with shares in Germany off the most. The DAX is down 0.69% while France’s CAC 40 is off 0.56% and London’s FTSE 100 is lower by 0.44%.
  • Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.79% and the Shanghai Composite rose 0.36%. The Nikkei 225 lost 0.20%.
  • The dollar index, which measures the greenback against a basket of six major rivals, remained under pressure, ending 0.05% lower yesterday. It was last trading down 0.34% at 94.56, amid concerns over a possible delay in U.S. tax bill reform.