Aug 20 2018

Indian Rupee Extended Gains On Bunched-Up Dollar Inflows

Financial Market Overview

20th August, 2018

Noon Update:-                                                                                  



  • The Indian rupee extended gains against the dollar in afternoon trade, as foreign banks sold the greenback owing to bunched-up inflows after a long weekend, while anticipation of easing trade tensions between the U.S. and China boosted most Asian currencies.
  • The rupee was last seen at 69.71 to a dollar, against 70.15 at previous close. It opened higher at 69.83 and has so far remained in a 69.6875-69.87 per dollar band, well off its record low of 70.40 hit on Aug. 16 intraday.


Indian Equities:-

  • Indian share indexes rose to fresh highs on Monday buoyed by gains in Larsen & Toubro following a buyback proposal, while financials rose.
  • Sentiment picked up across Asia as investors awaited developments on proposed Sino-U.S. trade talks and the yuan rallied from alarming lows.
  • The Sensex is up 342.87 points or 0.90% at 38290.75, and the Nifty up 86.00 points or 0.75% at 11556.90. The market breadth is narrow as 1,446 shares advanced, against a decline of 1,027 shares, while 139 shares were unchanged.


Global Markets:-

  • Asian markets finished higher today. The Hong Kong Hang Seng ended higher by 1.35% and the Shanghai Composite closed up by 1.11%.
  • European markets are higher today. The Germany’s DAX is trading higher by 0.59% followed by the France’s CAC at 0.43% and the London FTSE 100 at 0.32% .
  • The dollar index was last trading up 0.1% at 96.21, after dropping 0.6% on Friday.
  • The Turkish lira, which fell to a record-low last week, was trading slightly lower at 6.08 despite global rating agencies such as Moody’s and S&P downgrading Turkey’s sovereign credit ratings to “junk”.
  • Markets now await Federal Reserve’s August policy minutes due on Aug. 22 and its annual policy symposium in Jackson Hole, Wyoming that begins on Aug. 24.