Oct 05 2017

Rupee falls on Importers Dollar bids India services activity returns to growth

Posted Date:-05-Oct-2017

Financial Market Overview

05th October, 2017

Evening Coffee:-                                                                                      

MARKETS AT CLOSE:-

Rupee:-

  • The Indian rupee fell against the dollar, as importers stepped up greenback purchases after an upbeat U.S. economic data strengthened bets of another rate increase in the world’s largest economy. However, likely corporate dollar inflows limited the rupee’s losses.
  • The rupee settled at 65.14 to a dollar, against 65.01 at yesterday’s close. The currency had earlier fallen to a day’s low of 65.19, before briefly turning higher to 64.97 per dollar. Most other Asian currencies ended mixed.
  • The Nikkei/IHS Markit Services Purchasing Managers’ Index rose to 50.7 in September from 47.5 in August, moving back above the 50-mark that separates growth from contraction

Indian Equities:-

  • Indian shares ended lower on Thursday, snapping a four-session gaining streak, dragged down by financials such as ICICI Bank Ltd amid a lack of fresh triggers after the central bank maintained rates as expected.
  • The broader NSE index closed down 0.26 percent at 9,888.70, while the benchmark BSE index ended 0.25 percent lower at 31,592.0.

Global Markets:-

  • European markets are mixed. The FTSE 100 is higher by 0.29%, while Germany’s DAX is off 0.23%. Shares in France are unchanged with the CAC 40 at 5,363.28.
  • Asian shares were steady on Thursday, taking their cue from strong U.S. data though many markets failed to build on early gains in holiday-thinned trade and due to uncertainty about the impact of recent hurricanes on the U.S. economy. Japan’s Nikkei (N225) and Australian shares (AXJO) both ended flat.
  • The dollar index, which measures the greenback against a basket of six major rivals, fell 0.12% overnight despite a heartening U.S. economic data, as declining Treasury yields clawed at the greenback’s gains. The index rose 0.2% today.