Dec 13 2018

Rupee Gains As Robust Local Economic Data Lifts Sentiment

Financial Market Overview

13th December, 2018

Noon update

Indian Rupee:-

  • The Indian rupee was trading higher as a rally in domestic in bonds and equities, after retail inflation rate eased to a 17-month low, increased expectations of foreign fund inflows.
  • The rupee was trading at 71.62 per dollar versus its previous close of 72.01. It rose to a high of 71.52.

 Indian Equities:-

  • Indian shares climbed to a more than one-week high on Thursday after inflation eased sharply in November, and the new central bank governor’s move to open up a dialogue with lenders pushed up banking counters.
  • The broader NSE index was 0.89% higher at 10,832.95, while the benchmark BSE index was up 0.86% at 36,085.38.

 Global Markets:-

  • Asian markets finished higher as of the most recent closing prices. The Shanghai Composite gained 1.23% and the Hang Seng rose 1.29%.
  • European markets are higher today. The DAX was up 0.26% while the FTSE 100 gained 0.25%. The CAC 40 was up 0.32% while IBEX35 gained 0.88%.
  • The benchmark Brent crude oil prices was trading almost flat at $60.12 per barrel, following a drop in U.S. stockpiles and increasing investors’ risk appetite.
  • The dollar index slipped 0.4% overnight, its biggest single-session drop in two weeks. U.S. consumer prices were almost unchanged from a year ago in November, data showed yesterday. It was last trading 0.06% higher.
  • Most Asian shares and currencies were supported by risk-on rally in global markets after British Prime Minister Theresa May survived a no-confidence vote.
  • Most regional currencies and equities were trading higher on amid hopes of easing U.S. and China trade tensions. China had agreed to cut tariffs on U.S.-built cars and auto parts, a Donald Trump administration official said on Tuesday.