Nov 29 2017

Rupee at 2-month high on custodian inflows

Financial Market Overview

29th November, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee rose to a more-than-two-month high against the dollar in afternoon trade, as various banks sold the greenback likely on behalf of custodian clients, helping reverse early losses tracking overnight gains in the U.S. currency.
  • The rupee was last trading at 64.30 to a dollar, highest since Sep. 20, against 64.41 at previous close. It briefly fell to 64.51, but came off lows on dollar sales by several state-run and private banks. Most other Asian currencies also rose against the greenback.

Indian Equities:-

  • Equity benchmarks remained lacklustre in afternoon as investors await second quarter GDP data due Thursday. November futures & options contracts expiry due on Thursday also caused volatility in the market.
  • The 30-share BSE Sensex was up 12.96 points at 33,631.55 and the 50-share NSE Nifty declined 1.20 points to 10,369.05.
  • The market breadth remained positive. About 1,364 shares advanced against 1,161 declining shares on the BSE.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.49% and the Shanghai Composite rose 0.13%. The Hang Seng lost 0.19%.
  • European markets are mixed today. The DAX is up 0.82% while the CAC 40 gains 0.60%. The FTSE 100 is off 0.58%.
  • Traders will also eye the outgoing Federal Reserve Chair Janet Yellens speech, due today at the Banking committee testimony.