Nov 13 2017

Rupee extends losses tracking weak local equities

Financial Market Overview

13th November, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee extended losses against the dollar in afternoon trade, amid weakness in local shares and tracking broad strength in the greenback against a basket of currencies, including the British pound.
  • The rupee was last seen at 65.44 to a dollar against 65.16 at close in the previous session. The rupee fell to an intraday low of 65.5150, its lowest since Oct. 3.
  • Local investors now await India’s retail inflation data, due post market hours today. Data released on Friday showed, India’s industrial output rose 3.8% in September from a year earlier, the slowest pace of expansion since July. The reading trailed August’s revised expansion of 4.5%, and lagged the 4.2% median estimate in a  poll of economists.

Indian Equities:-

  • Sensex continued to trade over 150 points lower, while the Nifty was firmly below 10,300-mark.
  • The Sensex was down 165.93 points at 33148.63, while the Nifty was down 62.95 points at 10258.80. The market breadth was negative as 1117 shares advanced against a decline of 1307 shares, while 123 shares were unchanged.

Global Markets:-

  • 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%.
  • European markets are mixed today. The FTSE 100 is up 0.35% while the DAX gains 0.05%. The CAC 40 is off 0.08%.