Financial Market Overview
20th November, 2017
MARKETS AT CLOSE:-
- The Indian rupee ended lower in a lack luster session against the dollar on importers’ greenback demand, even as traders awaited solid trading cues.
- Overnight strength in the dollar index, along with rising political uncertainty in the Eurozone also weighed on the rupee today, offsetting gains following India’s sovereign rating upgrade last week.
- The rupee ended at 65.1050 to a dollar, against 65.01 at the previous close. It opened at the day’s high of 64.97, but gave up all gains to decline to the day’s low of 65.13. Most Asian currencies ended mixed against the dollar.
- Indian shares rose for a third straight session on Monday, as gains in oil refiners such as Reliance Industries Ltd and ONGC Ltd helped offset losses in IT stocks.
- The benchmark BSE index closed up 0.05 percent at 33,359.9 while the broader NSE index ended 0.15 percent higher at 10,298.75.
- Reliance was the biggest contributor to gains on the NSE index, closing nearly 1 percent higher as oil prices dropped overnight.
- European markets are higher today with shares in Germany leading the region. The DAX is up 0.21% while France’s CAC 40 is up 0.28% and London’s FTSE 100 is up 0.11%.
- Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.28% and the Hang Seng rose 0.21%. The Nikkei 225 lost 0.60%.
- The euro recovered from a two-month low against the yen touched in Asian trade on Monday, with investors brushing off the broader political risks of a failure of German Chancellor Angela Merkel to form a three-way coalition government.
- Merkel, whose conservatives were weakened after they won an election in September with a reduced number of seats, said she would inform the German president that she could not form a coalition, after the pro-business Free Democrats withdrew from negotiations.