Rupee gains on upbeat inflation and industrial output data

Rupee gains on upbeat inflation and industrial output data

13 Mar 2018 02:58 PM
Myforexeye Research Report

Financial Market Overview

13th March, 2018

Noon Update:-                                                                                  



  • Indian rupee remained higher against the dollar in afternoon trade, underpinned by improved domestic sentiment after local retail inflation slowed to a four-month low in February, while industrial production advanced to a two-month high. However, caution ahead of the U.S. February consumer inflation data, due later today, may test gains in the local currency.
  • The rupee was last seen at 64.99 to a dollar against 65.04 at close yesterday. Most Asian currencies were also trading higher against the dollar.

Indian Equities:-

  • The market wiped out its morning gains to trade lower as banking & financial stocks were off their day's high.
  • The 30-share BSE Sensex was down 71.42 points at 33,846.52 and the 50-share NSE Nifty fell 3.15 points to 10,418.25 amid consolidation.

Global Markets:-

  • European markets are mixed today. The CAC 40 is up 0.29% while the DAX gains 0.12%. The FTSE 100 is off 0.05%.
  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.66% and the Hang Seng rose 0.02%. The Shanghai Composite lost 0.49%.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended 0.2% lower overnight, and was last trading up 0.14% ahead of the U.S. February consumer inflation data due today. The data will be closely watched by investors in light of recent concerns over higher inflation potentially prompting the Federal Reserve to raise rates more aggressively. Economists poll expect U.S. consumer prices to have risen by 2.2% in February from a year earlier. Core inflation, a more closely watched measure, is expected at 1.8%.

Date : Mar-2018

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