Sep 11 2018

India Rupee Gains On Exporters’ Dollar Sales

Financial Market Overview

11th September, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee extended gains against the dollar after a volatile early trade, underpinned by dollar sales from various private banks, likely on behalf of exporter clients.
  • The rupee was trading at 72.45 to a dollar, against 72.45 at previous close. The domestic currency has been swinging between gains and losses, moving within a 72.26-72.51 to a dollar range, near a lifetime low of 72.68 hit yesterday.

 

Indian Equities:-

  • Indian shares inched lower on Tuesday, extending their sharp falls from the previous session, as the rupee hovered near its record low, while fears of an escalation in the U.S.-China tariff dispute continued to haunt investors in broader Asian markets.
  • The Sensex is down 88.29 points or 0.23% at 37833.88, while the Nifty is down 26.65 points or 0.23% at 11411.45. The market breadth is negative as 1,145 shares advanced, against a decline of 1,159 shares, while 153 shares were unchanged.

 

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.28%, while the Hang Seng and the Shanghai Composite lower. They fell 0.72% and 0.18% respectively.
  • European markets are trading mixed today. The France CAC40 is trading higher by 0.14% followed by the Spian’s IBEX35 at 0.16% and the Germany’s DAX at 0.03%. The London’s FTSE100 is trading lower by 0.29%.
  • The dollar index was trading 0.3% lower, extending its 0.2% decline overnight amid a rally in the British pound.
  • Benchmark Brent crude oil contract prices continued to test gains in the rupee. It was up 0.4% at $77.66 per barrel, poised to gain for a third day, as markets anticipated pressure on prices amid looming U.S. sanctions targeting Iran’s oil exports.
  • The Chinese Yuan headed for a fourth straight loss against the dollar, hurt by worries that U.S. President Donald Trump may impose another round of tariffs on Chinese goods.