Dec 08 2017

Rupee gains on exporters dollar sales; US jobs data eyed

Financial Market Overview

08th December, 2017

Noon Update:-                                                                                  



  • Indian rupee rose against the dollar in afternoon trade, as exporters sold the U.S. currency, while strength in local shares also supported sentiment for the local unit. However, caution ahead of the U.S. monthly employment report, due later today, limited further gains.
  • The rupee was last seen at 64.4625 to a dollar , against 64.57 at close in the previous session. The local currency opened at 64.56 to a dollar and had briefly turned lower to 64.58 per dollar. Most Asian currencies were trading mixed against the dollar.

Indian Equities:-

  • The rally continued at Dalal Street in noon as the Sensex surged more than 300 points intraday, driven by broadbased buying except PSU banks. Nifty Bank index gained more than 200 points while Auto, FMCG, Metal, Pharma and Private Bank indices were up 1-2 percent. PSU Bank fell 0.7 percent.
  • The 30-share BSE Sensex rose 305.33 points to 33,254.54 and the 50-share NSE Nifty gained 96.15points at 10,262.25. About 1,595 shares advanced against 795 declining shares on the BSE.

Global Markets:-

  • European markets are higher today with shares in Germany leading the region. The DAX is up 1.11% while France’s CAC 40 is up 0.63% and London’s FTSE 100 is up 0.11%..
  • Asian markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 1.39% while Hong Kong’s Hang Seng is up 1.19% and China’s Shanghai Composite is up 0.55%.
  • Investors now await the key U.S. nonfarm payrolls report due later today, ahead of the Federal Reserve’s monetary policy due on Dec. 12-Dec. 13. A poll of economists forecast U.S. to add 200,000 jobs in November against 261,000 jobs in October.
  • Data released today from China showed, the nation’s November exports and imports rose at faster-than-expected 12.3% and 17.7% on year, respectively. China’s trade surplus stood at $40.21 billion for the month. A poll had expected its exports to rise by 5% and imports to increase by 11.3% in November, slower than previous month’s increase of 6.9% and 17.2%, respectively.