Jun 07 2018

Rupee came off the day’s low on corporate Dollar sales

Financial Market Overview

07th June, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee came off the day’s low against the dollar in thin afternoon trade, as domestic banks sold the greenback likely for corporate clients. However, concerns of higher U.S. yields and foreign fund outflows from local bonds limited further rise in the local currency.
  • The rupee was last seen at 67.04 to a dollar, from 66.92 at previous close. It opened little changed at 66.93 and extended losses to 67.14, before trimming some losses. Other Asian currencies also traded mixed against the dollar.

Indian Equities:-

  • The market has gathered a lot of steam now, with the Sensex rising over 4000 points, while the Nifty has hit 10,800 after several sessions.
  • The Sensex is up 439.63 points at 35,618.51, and the Nifty gains 130.80 points at 10815.45.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.87% and the Hang Seng rose 0.70%. The Shanghai Composite lost 0.20%.
  • European markets are mixed today. The CAC 40 is up 0.77% while the DAX gains 0.63%. The FTSE 100 advances 0.34%.
  • The U.S. 10-year bond yield was back near the closely-watched 3% level and was last at 2.9809%, after rising five basis points yesterday to end at 2.9736%.
  • The euro gained ground on Thursday, building on the previous day’s gains after hawkish European Central Bank comments fueled expectations that it will soon start scaling back its monetary stimulus program. EUR/USD was up 0.47% to 1.1838, the highest level since May 22. The euro has risen around 1.47% against the dollar so far this week.