Feb 21 2018

Rupee came off day’s low as RBI likely steps in

Financial Market Overview

21st February, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee came off day’s low against the dollar in afternoon trade, as state-run banks, likely on behalf of the central bank, and exporters stepped up greenback sales.
  • Rupee was last seen at 64.80 to a dollar, against 64.79 at the previous close. The currency fell to day’s low of 64.94 per dollar, its lowest since Nov. 22, but pared some losses after at least two state-run banks sold dollars likely on behalf of the Reserve Bank of India. Most Asian currencies also fell against the greenback.

Indian Equities:-

  • Benchmark indices trading marginally higher in afternoon by recovering its morning losses.
  • The 30-share BSE Sensex was up 45.18 points at 33,748.77 and the 50-share NSE Nifty gains 2.15 points to 10,362.55.

Global Markets:-

  • European markets are lower today with shares in France off the most. The CAC 40 is down 0.44% while Germany’s DAX is off 0.34% and London’s FTSE 100 is lower by 0.30%.
  • Asian markets finished broadly higher today with shares in Hong Kong leading the region. The Hang Seng is up 1.81% while China’s Shanghai Composite is closed for a Chinese holiday and Japan’s Nikkei 225 is up 0.21%.
  • The dollar index, which measures the greenback against a basket of six major rivals, was last trading up 0.1% adding to yesterday’s 0.7% gains. The index also posted its largest single-session gain since Feb. 7 in an overnight trade, aided by gains in U.S treasury yields.
  • French private sector activity slowed but remained solid in February, according to survey data released on Wednesday.
  • The preliminary reading of the Markit services purchasing managers’ index came in at 57.9 this month from 59.2 in January. Economists had forecast a reading of 59.1.