Indian Rupee stays higher on foreign bank dollars sales

Indian Rupee stays higher on foreign bank dollars sales

31 Jul 2018 02:28 PM
Myforexeye Research Report

Financial Market Overview

31st July, 2018

Noon Update:-                                                                                  



  • The Indian rupee was higher at 68.59/68.60 to a dollar, versus 68.67/68.68 at previous close, on greenback sales by foreign banks and expectation of inflows from a share sale in HDFC Bank. However, caution ahead of outcomes of monetary policy at home and the U.S. central bank policy meet tomorrow limited further gains.

Indian Equities:-

  • Indian shares fell on Tuesday after the recent record-setting spree, dragged by financials such as HDFC Bank Ltd. and Axis Bank Ltd., as investors focused on the central bank's bi-monthly policy meeting that will held tomorrow.
  • The Sensex is down by 67.92 points or 0.18% at 37426.48 and the Nifty is lower by 13.90 points or 0.12% at 11305.65. The market breadth is narrow as 1252 shares have advanced, 1117 shares declined, and 137 shares are unchanged.

Global Markets:-

  • Asian markets finished mixed today. The Hong Kong Hang Seng ended lower by 0.53% and the Shanghai Composite trading higher at 0.26%.
  • European markets are trading higher today. The London's FTSE100 is rose by 0.16% followed by the France's CAC 40 at 0.12% and the Germany's DAX at 0.08%.
  • The dollar index a measure of its value against a basket of six major currencies, was flat at 94.318, off a one-year high of 95.656 touched on July 19.
  • Chinese Yuan is under pressure due to worries about the impact of a heated Sino-U.S. trade row and slowing growth, weakened 0.1 percent after falling to a 13-month low on Monday. The yuan was headed for its fourth straight month of weakening, the longest such streak since early 2015.
  • The Japanese yen weakened against the dollar on Tuesday after the central bank pledged to keep interest rates low and adopted a forward guidance model to strengthen its commitment for its massive policy stimulus.


Source : Myforexeye Research

Date : Jul-2018

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