Rupee Gains In Thin-Volume Trade On Likely Custodian Flows

24 Dec 2018 01:52 PM

Financial Market Overview

24th December, 2018

Noon update

Indian Rupee:-

  • The Indian rupee rose in choppy afternoon session against the dollar, as greenback sales by foreign banks likely on behalf of their custodian clients added to early gains triggered by exporters’ dollar sales. However, sell-off in global shares amid uncertainty hovering around U.S. political issues limited further gains.
  • The rupee changed hands at 70.01 to a dollar, against 70.1450 at the previous close. The currency opened lower at 70.18 and turned higher in afternoon trade. It has so far traded in a 70.01-70.29 band.

 Indian Equities:-

  • Indian shares edged lower on Monday, in line with broader Asian markets, as political uncertainties in the U.S. and slow global economic growth dampened investor risk appetite.
  • The broader NSE index was down 0.06% at 10,747.50, while the benchmark BSE index was trading 0.02% lower at 35,734.54.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.43%, while the Nikkei 225 led the Hang Seng lower. They fell 1.11% and 0.40% respectively.
  • European markets are mixed today. The DAX was up 0.21% while the FTSE 100 lost 0.64%. The CAC 40 was down 0.93% while IBEX35 lost 0.95%.
  • The benchmark Brent crude oil prices rebounded 0.67% at $54.18 per barrel, after dropping nearly 1% in the previous session, on some value-buying after recent plunge. Global economic slowdown and concerns over supply glut had resulted into nearly 11% drop in crude prices last week.
  • The dollar index extended gains to trade at 96.82, after climbing 0.7% on Dec. 21, after another round of losses on Wall Street prompted safe-haven demand for the U.S. currency.
  • U.S. President Donald Trump, the Republicans and the Democrats could not reconcile their differences over funding over the Mexico wall, leading to the U.S. Congress missing a deadline for passing a spending bill.





Date : 24-Dec-2018

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