Nov 10 2017

Rupee stays down as Crude Oil price rise hurts sentiment

Financial Market Overview

10th November, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee remained lower against the dollar in afternoon trade, as higher crude oil prices hurt appetite for domestic assets.  However, greenback sales, likely by exporters, limited further fall in the rupee.
  • The rupee was last trading at 65.0425 to a dollar, against 64.94 at close yesterday. The local currency has moved in a 10-paise range so far. Meanwhile, most Asian currencies were trading higher against the dollar.

Indian Equities:-

  • The BSE Sensex recouped its early losses to trade flat in afternoon deals while the NSE Nifty reclaimed 10,300-mark. The broader markets outperformed, with the Nifty Midcap rising 0.3 percent.
  • The 30-share BSE Sensex was up 30.29 points at 33,281.22 and the 50-share NSE Nifty rose 4.10 points to 10,313.05.
  • Country’s largest lender State Bank of India has reported a sharp degrowth of 38 percent year-on-year in standalone profit for July-September quarter, dented by higher provisions for bad loan accounts referred for insolvency proceedings at the National Company Law Tribunal (NCLT).

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.14% and the Hang Seng rose 0.05%. The Nikkei 225 lost 0.87%.
  • European markets are higher today with shares in Germany leading the region. The DAX is up 0.23% while London’s FTSE 100 is up 0.20% and France’s CAC 40 is up 0.05%.