Financial Market Overview
20th November, 2017
MARKETS AT OPEN:-
- Indian rupee opened higher at 64.97 against the dollar, The Indian rupee was slightly lower against the dollar in early trade, as German Chancellor Angela Merkel’s talks to form a coalition government collapsed, weighing on euro and boosting the greenback.; pair USDINR now at 65.10, against 65.01 previous close.
- Last week, Moody’s raised India’s sovereign credit rating by a level to Baa2 from the lowest investment-grade Baa3, citing continued economic reforms that have raised prospects of stronger growth. The ratings agency revised the outlook to stable from positive. This was the first rating upgrade by Moody’s since 2004..
- Pair to tip in range between today 64.95-65.25
- Equity benchmarks opened flat with a negative bias on Monday, after rallying nearly 600 points in previous two consecutive sessions. Subdued Asia trade also caused some selling pressure. Investors digested Moody’s India upgrade and focussed on Gujarat Assembly elections that will take place next month.
- The 30-share BSE Sensex is down 4 points at 33,338.59 and the 50-share NSE Nifty is down 8.5 points to 10,275.20..
- Asian markets are lower today with shares in China off the most. The Shanghai Composite is down 0.86% while Japan’s Nikkei 225 is off 0.50% and Hong Kong’s Hang Seng is lower by 0.12%.
- North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.28% and the IPC rose 0.23%. The S&P 500 lost 0.26%.
- European markets finished lower on Friday with shares in Germany leading the region. The DAX is down 0.41% while France’s CAC 40 is off 0.32% and London’s FTSE 100 is lower by 0.08%.
- The euro hit a two-month low against the yen, as German Chancellor Angela Merkel’s efforts to form a three-way coalition government failed, stoking political uncertainty in the euro zone’s largest economy.