Nov 16 2017

Rupee ends lower; Dollar sales limit losses

Financial Market Overview

16th November, 2017

Evening Coffee:-                                                                                      

MARKETS AT CLOSE:-

Rupee:-

  • The Indian rupee fell against the dollar, as upbeat U.S. inflation and retail sales data lifted expectations of another interest rate increase in the world’s biggest economy. However, greenback sales by foreign banks amid strong local shares capped some losses in the rupee.
  • The rupee ended at 65.32 to a dollar, against 65.21 at close yesterday. It opened at 65.29, and extended losses to 65.39 in early trade, before rising to 65.14. Most Asian currencies were flat to higher against the dollar.

Indian Equities:-

  • Indian shares snapped three straight sessions of losses, aided by gains in banking and IT stocks, while refiners such as Reliance Industries Ltd surged on a drop in oil prices.
  • The BSE index ended 1.06 percent higher at 33,106.82, while the broader NSE index rose 0.96 percent to end at 10,214.75.

Global Markets:-

  • European markets are higher today with shares in France leading the region. The CAC 40 is up 0.55% while Germany’s DAX is up 0.42% and London’s FTSE 100 is up 0.07%..
  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 1.47% and the Hang Seng rose 0.74%. The Shanghai Composite lost 0.10%.
  • In the UK, data showed that retail sales rose more than expected on a monthly basis but, year-over-year, they fell for the first time since 2013.
  • Euro zone inflation came in below the European Central Bank’s target rate in October, according to a revision released by Eurostat on Thursday.
  • The European Union’s statistics office said the revised reading showed that the consumer price index rose at an annual rate of 1.4% in October, down from 1.5% in September. Meanwhile the index rose by 0.1% month-over-month in October, revised down from 0.4% in the preliminary reading.