Rupee falls as banks bids and weak local equities weighs; Indian GDP eyed

30 Nov 2017 09:47 AM
Financial Market Overview 30th November, 2017 Noon Update:-                                                                                   MARKETS AT Noon:- Rupee:-
  • Indian rupee stayed lower against the dollar in afternoon session and was headed for its first loss in four sessions, weighed down by weakness in local shares and greenback purchases, even as traders awaited economic growth data, due later today.
  • The rupee was last seen at 64.4675 to a dollar against 64.31 at close in the previous session. The local currency had opened at a day’s low of 64.54. Most Asian currencies were also trading lower against the dollar.
  • Local investors await India’s July-September economic growth data, due after market hours. According to a Reuters poll of economists, India’s gross domestic product growth likely rose 6.4% on year in July-September, against 5.7% in the previous quarter. Fiscal deficit and infrastructure output data are also due later today.
  • Indian money markets will remain closed tomorrow for a local holiday.
Indian Equities:-
  • Sluggishness in the Indian market continued from the morning session, with the Nifty trading firmly below 10,300.
  • The Sensex was down 280.12 points at 33322.64, while the Nifty was down 83.25 points at 10278.05. The market breadth was negative as 1092 shares advanced against a decline of 1387 shares, while 129 shares were unchanged.
  • Bajaj Auto, DRL, Bosch and Indiabulls Housing continued to lead the charts, while Axis Bank, Reliance, and Hindalco fell the most.
Global Markets:-
  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.57%, while the Hang Seng led the Shanghai Composite lower. They fell 1.30% and 0.62% respectively.
  • European markets are lower today. Shares in London Off the most with FTSE100 trading lower by 0.32%, France CAC40 is down 0.11% and Germany's DAX is off by 0.08%.