Oct 15 2018

India Rupee Opened Lower As Crude Rebound

Financial Market Overview

15Th October, 2018

Morning Coffee:-                                                                        

MARKETS AT OPEN:-

Rupee:-

  • The Indian rupee is opened lower against the dollar, as the rise in Brent crude amid increasing tensions over a missing journalist. The rupee is opened lower at 73.80 versus the dollar compared with its previous close of 73.56, With Friday’s India inflation and industrial output data “more or less” in line with expectations, domestic equities, along with oil prices, will be the key to the rupee’s direction this week
  • Brent crude and the U.S. benchmark oil climbed 1.3% each on Monday after Saudi Arabia reportedly threatened to retaliate to any action taken against it in relation to the disappearance of a journalist.
  • We Expect Pair to trade in the range between 74.05 to 73.55

Indian Equities:-

  • Benchmark indices opened flat on Monday amid weak Asian markets. The 30-share BSE Sensex fell 3.91 points at 34,729.67 and the 50-share NSE Nifty declined 6.30 points to 10,466.20.
  • Nifty Midcap index gained 80 points. AU Small Finance Bank, Jay Bharat Maruti, Praj Industries, Bajaj Hindusthan, Triveni Engineering, Shree Renuka, CESC, Balrampur Chini, Info Edge and Dilip Buildcon rallied 1-8 percent. Avenue Supermarts fell 6 percent. US crude futures climbed 74 cents, or 1.04 percent, to $72.08 a barrel, extending gains they racked up on Friday after hefty losses on Wednesday and Thursday.

Global Markets:-

  • Asian markets are lower today as Japanese, Chinese and Hong Kong shares fall. The Nikkei 225 is off 1.39% while the Hang Seng is down -1.13%. . The Shanghai Composite is off -0.86% And the australian ASX200 is down by -66 points and -1.13% down.
  • European markets finished lower on Friday with shares in France leading the region. The CAC 40 is down 0.20% while London’s FTSE 100 is off 0.16% and Germany’s DAX is lower by 0.14%.
  • Wall Street indexes snapped a losing streak on Friday and technology stocks came roaring back after a week of blistering losses as investors looked for bargains ahead of earnings season even as worries about U.S.-China trade tensions lingered.
  • The Dow Jones Industrial Average rose 287.16 points, or 1.15 percent, to 25,339.99, the S&P 500 gained 38.71 points, or 1.42 percent, to 2,767.08 and the Nasdaq Composite added 167.83 points, or 2.29 percent, to 7,496.89.
  • The Commodity Futures Trading Commission’s (CFTC) weekly Commitments of Traders (COT) report provides a breakdown of the net positions for “non-commercial” (speculative) traders in U.S. futures markets.
    The Commitments of Traders report is considered an indicator for analyzing market sentiment and many speculative traders use the data to help them decide whether or not to take a long or short position.
  • Friday, data showed that consumer prices in India rose 3.77% last month, two-tenths slower than the rate expected by economists polled by Reuters, while industrial output in August increased 4.3% on-year.
  • Ten-year US yield at 3.15%, up one basis point from Friday’s close.
  • Dollar index up 0.1% at 95.32.