May 30 2018

Rupee gains on exporters Dollar sales

Financial Market Overview

30th May, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee rose against the dollar in thin afternoon trade and was headed for its fourth gain in five sessions, as likely corporate and exporter-related greenback sales and lower crude oil prices helped offset impact from investors’ risk aversion.
  • The rupee was last seen at 67.52 to a dollar, against 67.86 at previous close. It fell to 67.89 before cutting all losses and rising to the day’s high so far of 67.48.

Indian Equities:-

  • Benchmark indices recouped all morning losses, with the 30-share BSE Sensex rising 4.44 points to 34,953.68 while the 50-share NSE Nifty fell 8.40 points at 10,624.90.
  • HDFC Bank, Bajaj Finance, M&M, Kotak Mahindra Bank, Yes Bank, Bajaj Finserv, Reliance Industries and SBI are top contributors to Nifty’s gains.

Global Markets:-

  • Asian markets finished sharply lower today with shares in China leading the region. The Shanghai Composite is down 2.53% while Japan’s Nikkei 225 is off 1.52% and Hong Kong’s Hang Seng is lower by 1.37%.
  • European markets are mixed today. The DAX is up 0.35% while the FTSE 100 gains 0.05%. The CAC 40 is off 0.37%.
  • The euro rose back above the $1.16 level on Wednesday as it recovered after falling to multi-month lows the previous day as fears over political turmoil in Italy roiled markets. EUR/USD rose 0.6% to 1.1603, pulling away from Tuesday’s 10-month lows of 1.1509.