Financial Market Overview
13th November, 2017
MARKETS AT CLOSE:-
- The Indian rupee fell to a more-than-one-month low against the dollar, marking its biggest fall in almost a week, tracking lower local shares and a turnaround in sentiment for the greenback that gained strength against a basket of currencies, including the British pound.
- The rupee ended at 65.42 to a dollar, lowest since Oct. 3, against 65.16 at the previous close. The day also marked the rupee’s largest single-session fall since Nov.7.
- Indian shares tumbled on Monday, dragged by financial stocks such as Housing Development Finance Corp, while Larsen & Toubro Ltd declined after it cut its full-year order flow growth guidance.
- The broader NSE index closed 0.94 percent lower at 10,224.95, while the benchmark BSE index was down 0.84 percent at 33,033.56.
- Housing Development Finance Corp ended 2.3 percent lower, while Larsen & Toubro Ltd closed down 1.9 percent.
- European markets are mixed. The FTSE 100 is higher by 0.07%, while the DAX is leading the CAC 40 lower. They are down 0.56% and 0.46% respectively.
- Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.44% and the Hang Seng rose 0.21%. The Nikkei 225 lost 1.32%.
- The dollar index, which measures the greenback against a basket of six major rivals, was last trading up 0.17% at 94.56, tracking an over half-a-percent loss in British pound on reports that 40 members of parliament from Prime Minister Theresa May’s Conservative party have agreed to sign a letter of no confidence in her. May has lost two cabinet ministers in two weeks, amid political scandals.
- Meanwhile, Britain will not provide a figure or a formula on how much it believes it owes the European Union, Brexit minister David Davis said. The EU had demanded that Britain details its approach to the final bill. This sparked fear of Britain missing a December deadline to unblock talks to discuss future trade ties.