Dec 05 2017

Rupee at over 2-month high on broad Dollar weakness

Financial Market Overview

05th December, 2017

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Rupee opens higher tracking broad dollar weakness. Pair USDINR now at 64.22, lowest since September 19, against 64.37 previous close.
  • Pair to tip in range between today 64.20-64.40.

Indian Equities:-

  • Equity benchmarks opened mildly lower on Tuesday following tepid Asian cues. Investors remained cautious ahead of mid-term review of foreign trade policy due later today and RBI policy tomorrow.
  • The 30-share BSE Sensex was down 68.74 points at 32,800.98 and the 50-share NSE Nifty declined 19.30 points to 10,108.50.
  • Wipro, NTPC, IOC, Tech Mahindra, Power Grid, ONGC, L&T and HDFC Bank were early losers while Bosch, Bharti Airtel, HPCL, BPCL, Kotak Mahindra Bank, Tata Motors, M&M and Maruti Suzuki were gainers.

Global Markets:-

  • Asian markets are mixed today . The Hang Seng is down 0.33% . The Shanghai Composite rose 0.06% and ASX200 is trading off by 0.20%.
  • Wall Street ended mixed on Monday, with banks and retailers surging and technology companies tanking as investors adjusted their portfolios in hopes of benefiting from expected corporate tax cuts. The Dow Jones Industrial Average rose 58.46 points, or 0.24 percent, to 24,290.05, the S&P 500  lost 2.78 points, or 0.11 percent, to 2,639.44 and the Nasdaq Composite dropped 72.22 points, or 1.05 percent, to 6,775.37.
  • European markets finished broadly higher today with shares in Germany leading the region. The DAX is up 1.53% while France’s CAC 40 is up 1.36% and London’s FTSE 100 is up 0.53%.
  • Dollar index down 0.1% as US tax optimism rally fades; headed for fourth day of fall in last five sessions. Most Asian currencies trading higher. Pound in focus after Britain and EU say they failed to reach Brexit deal. GBP/USD slips 0.1% to 1.3464, after ending little changed overnight.