Aug 02 2018

Indian Rupee Unchanged as Bank Dollar Sales Offsets Oil Importers Demand

Financial Market Overview

02nd August, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee was little changed against the dollar in afternoon trade, as greenback sales by a large private bank outweighed oil-related dollar purchases.
  • The rupee was last seen at 68.4550 to a dollar, against 68.43 at previous close. It has risen as much as 68.27 today, also highest since Jun. 26 but gave up gains on oil-related dollar bids and purchases by a large European and a U.S-based bank.

Indian Equities:-

  • Indian shares fell on Thursday, dragged by financial and energy stocks a day after the central bank raised its key policy rate, while escalating Sino-U.S. trade spat also weighed on investor sentiment.
  • The broader NSE index was down 0.48 percent at 11,291.25 as well as the BSE index was 0.55 percent lower at 37,327.97.

Global Markets:-

  • Asian markets finished sharply lower today. The Hong Kong Hang Seng ended lower by 2.17% as well as the Shanghai Composite at 2.03%.
  • European markets are trading lower today. The Germany’s DAX is trading lower by 1.09% followed by the the London’s FTSE100 at 0.46% and the France’s CAC 40 at 0.35%.
  • The dollar index extended yesterday’s 0.1% gains and was last trading up 0.3%.
  • The dollar was higher against a currency basket on Thursday after the Federal Reserve indicated that it is on track for additional rate hikes this year, while the pound slipped ahead of the Bank of England’s policy announcement.