Jun 11 2018

Rupee extended gains on Dollar sales by foreign banks likely for custodian clients

Financial Market Overview

11th June, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee extended gains against the dollar in afternoon trade on greenback sales by foreign banks, likely on behalf of their custodian clients. Gains in most Asian peers ahead of a crucial meeting tomorrow between the U.S. President Donald Trump and North Korean leader Kim Jong Un also supported the rupee, even as investors cautiously await policy decisions from three major central banks this week.
  • The rupee was last seen at 67.32 to a dollar, from 67.50 at previous close. It opened at 67.46 to dollar, extending gains to 67.28.

Indian Equities:-

  • Benchmark indices have maintained their strong momentum from the morning, with the Sensex soaring almost 250 points, while the Nifty is hovering around 10,850.
  • The Sensex is up 255.11 points at 35,698.78, and the Nifty gains by  78.65 points at 10846.30.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.48% and the Hang Seng rose 0.35%. The Shanghai Composite lost 0.48%.
  • European markets are higher today with shares in Germany leading the region. The DAX is up 0.63% while London’s FTSE 100 is up 0.53% and France’s CAC 40 is up 0.29%.
  • Trump and Kim Jong Un arrived in Singapore yesterday for the first ever face-to-face meeting between the two nuclear power countries tomorrow. Investors are hoping Trump could convince the Pyongyang leader to begin the process of denuclearizing in exchange for easing economic sanctions.
  • The dollar index, measured against basket of six major currencies, was last trading down 0.2%, erasing gains in the previous session of 0.2%.