Oct 11 2017

Rupee higher on foreign banks Dollar sales

Financial Market Overview

11th October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee shrugged off a lackluster afternoon trade to rise against the dollar, on the back of foreign banks’ dollar sales, likely on behalf of corporate clients. Meanwhile sustained importers’ dollar demand continued to limit gains stemming from a weak greenback on concerns over proposed U.S. tax reforms and a strong euro.
  • The rupee was last trading at 65.23 to a dollar against 65.28 at previous close. It has traded in narrow 13-paise range till now. Most Asian currencies were also trading lower against the dollar.

Indian Equities:-

  • Benchmark indices turned negative, with the Nifty breaking 10,000-mark in the last hour of trade.
  • The Sensex was down 99.63 points at 31824.78, while the Nifty was down 39.95 points at 9977.00. The market breadth was negative as 914 shares advanced against a decline of 1,664 shares, while 93 shares were unchanged.
  • Bharti Airtel, TCS, and HPCL were the top gainers, while SBI, BHEL, and Indiabulls Housing lost the most.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.28% and the Shanghai Composite rose 0.16%. The Hang Seng lost 0.36%.
  • European markets are mixed. The DAX is higher by 0.04%, while the CAC 40 is leading the FTSE 100 lower. They are down 0.19% and 0.04% respectively.