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Dec 29 2017

Rupee edges higher on weak U.S data

Financial Market Overview

29th December, 2017

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Indian rupee edges higher against the dollar, in line with most other Asian peers, tracking an overnight sell-off in the greenback amid a disappointing U.S. data. Pair USDINR now at 63.96 against 64.08 previous close.
  • Pair to tip in range between 63.90-64.10 today.

Indian Equities:-

  • Equity benchmarks started off the January series on a strong note as the Nifty reclaimed 10,500 level, backed by positive Asian cues.
  • The 30-share BSE Sensex was up 94.26 points at 33,942.29 and the 50-share NSE Nifty rose 26.30 points to 10,504.20.
  • Tata Steel, Vedanta, Bosch, UPL, Eicher Motors, Hero MotoCorp and SBI were early gainers while HDFC Bank, ICICI Bank and Kotak Mahindra Bank were under pressure.

Global Markets:-

  • Asian markets are mixed today . The Hang Seng is up 0.35% . The Shanghai Composite rose 0.05% and ASX200 is trading down  by 0.30%.
  • S. stocks edged higher in light trading on Thursday. The Dow Jones Industrial Average rose 63.21 points, or 0.26 percent, to 24,837.51, the S&P 500 gained 4.92 points, or 0.18 percent, to 2,687.54 and the Nasdaq Composite added 10.82 points, or 0.16 percent, to 6,950.16.
  • European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.03%, while the DAX led the CAC 40 lower. They fell 0.69% and 0.55% respectively.
  • The dollar index, which measures the greenback against a basket of six major rivals, slipped half a percent overnight to close at 92.60, marking its lowest closing since Sep.22 amid release of a less than upbeat data.
  • The Labor Department released the initial U.S. jobless claims figures, a tool to measure layoffs that were unchanged at 245,000 for the week ended Dec. 23.
  • Separately, the U.S. Census Bureau announced that international trade deficit stood at $69.7 billion in November, higher from the $68.1 billion deficit in October.