Apr 23 2018

Rupee at over 13-month low – dragged down by rise in US. yields and higher Oil prices

Financial Market Overview

23rd April, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee fell to a fresh more-than-13-month low against the dollar in afternoon trade, dragged by a spike in U.S. Treasury yields amid higher crude oil prices.
  • The rupee was last seen at 66.35 to a dollar, from 66.12 at previous close. Most Asian currencies were also trading lower against the greenback.

Indian Equities:-

  • The market extended gains in afternoon, with the Sensex rising nearly 200 points following further upmove in technology stocks.
  • Infosys extended gains to 3 percent following value buying in TCS, HCL Technologies, Tech Mahindra. The Nifty IT index was up 2.5 percent followed by Pharma and Realty.
  • The 30-share BSE Sensex was up 194.49 points at 34,610.07 and the 50-share NSE Nifty gained 63.60 points at 10,627.35.

Global Markets:-

  • European markets are lower today with shares in Germany off the most. The DAX is down 0.33% while France’s CAC 40 is off 0.29% and London’s FTSE 100 is lower by 0.03%.
  • Asian markets finished lower today with shares in Hong Kong leading the region. The Hang Seng is down 0.54% while Japan’s Nikkei 225 is off 0.33% and China’s Shanghai Composite is lower by 0.11%.
  • Private sector economic activity in the euro zone accelerated in April, according to survey data released on Monday, easing concern over the health of the region’s economy. Markit said that its Flash Euro Zone Composite Output Index, which measures the combined output of both the manufacturing and service sectors, held steady at 55.2 in April, above forecasts for 54.9. The flash services purchasing managers’ index improved to 55.0 this month from 54.9 in March, beating expectations for a reading of 54.8. The preliminary euro zone manufacturing purchasing managers’ index inched down to 56.0 this month from a final reading of 56.6 in March. Analysts had expected the index to remain unchanged at 56.6.
  • The dollar index, which measures the greenback against a basket of six major rivals, rose 0.4% on Friday, and was last hovering close to its highest levels in over two weeks after 10-year U.S. Treasury yield surged to its highest level in more than four years. The 10-year U.S. Treasury yield was at 2.97%, after rising four basis points in previous session, to mark its highest close since 2014.