Rupee Extends Gains Tracking Local Shares

Rupee Extends Gains Tracking Local Shares

17 Dec 2018 02:02 PM
Myforexeye Research Report

Financial Market Overview

17th December, 2018

Noon update

Indian Rupee:-

  • The Indian rupee extended gains against the dollar in afternoon trade, as rally in local and regional shares increased expectations of foreign fund inflows amid narrowing trade deficit.
  • The rupee changed hands at 71.67 to a dollar, against 71.8950 at previous close. It opened higher at 71.79 and fell to an intraday low of 71.86, before rebounding to 71.6575.

Indian Equities:-

  • Indian shares rose, continuing their positive momentum from last week, with gains across most sectors led by financials as investors remained bullish heading into the last couple of weeks of calendar year 2018.
  • The broader NSE index was up 0.52% at 10,861.70, while the benchmark BSE index was 0.66% higher at 36,198.63.

Global Markets:-

  • Asian markets are higher today. Hong Kong's Hang Seng gains 0.08% and China's Shanghai Composite is higher by 0.16%.
  • European markets are lower today. The DAX was down 0.10% while the FTSE 100 lost 0.16%. The CAC 40 was down 0.29% while IBEX35 lost 0.39%.
  • The benchmark Brent crude prices slipped over 2% on Dec. 14, as concerns over slowdown in global economic growth raised worries of slowing demand. It was last trading 0.08% lower at $60.23 per barrel.
  • Meanwhile, the dollar index on Dec. 14 had reached its highest level since June last year, helped by a surge in core retail sales and weak data out of Europe. Safe-haven bets following a slump in Wall Street also supported gains in the index. It was last trading steady at 97.39.
  • Markets now await the Fed’s two-day meeting, which begins tomorrow. A flattening U.S. yield curve amid worries over the growth outlook and recent comments by the Fed chair that U.S. rates were close to neutral have prompted investors to pare down their expectations of interest-rate increases for next year.





Date : 17-Dec-2018

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