May 09 2018

Rupee extend its losses to a 15-month low against Dollar

Financial Market Overview

09th May, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee extended losses to a 15-month low against the dollar in afternoon trade, as oil prices jumped to the highest levels since 2014 after U.S. President Donald Trump walked away from a nuclear deal with Iran, stoking concerns of further conflict in the Middle East and casting shadow over global oil supplies.
  • The rupee was last seen at 67.35 to a dollar, against 67.0775 at previous close. It fell to the day’s low of 67.47, also lowest since Feb. 2, 2017, but pared some losses after at least two state-run banks along with a private lender sold the dollar, likely on the central bank’s instructions.

Indian Equities:-

  • Indian shares edged up on Wednesday with losses in oil marketing companies (OMCs) such as Hindustan Petroleum Corp Ltd being offset by gains in IT stocks including Tata Consultancy Services Ltd.
  • The broader NSE index was up 36.90 points or 0.34 percent at 10,754.80, while the benchmark BSE index was up 159.94 points or 0.45 percent higher at 35,376.26.

Global Markets:-

  • European markets are mixed today. The FTSE 100 is up 0.40% while the DAX gains 0.05%. The CAC 40 is even.
  • Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.44%, while the Nikkei 225 led the Shanghai Composite lower. They fell 0.44% and 0.07% respectively.
  • The dollar index, which measures the greenback against a basket of six major rivals, was at a new 2018 high, trading well above the closely watched 93 level. It was last trading up 0.25% at 93.35.