Nov 21 2017

Rupee higher tracking gains in local equities

Financial Market Overview

21st November, 2017

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Indian rupee trading higher against the dollar in early trades, tracking gains in local equities and strong Asian cues . Pair USDINR now at 65.03, against 65.1050 previous close.
  • Pair to tip in range between today 64.95-65.16.

Indian Equities:-

  • Equity benchmarks opened higher on Tuesday, continuing upmove for fourth consecutive session while the broader markets also participated in rally, backed by positive global cues.
  • The 30-share BSE Sensex was up 109.13 points at 33,469.03 and the 50-share NSE Nifty rose 30 points to 10,328.80.
  • About 892 shares advanced against 258 declining shares on the BSE. Yes Bank, Reliance Industries, Vedanta, Cipla, Wipro, Tech Mahindra, Tata Motors, Bajaj Finance and Bharti Airtel were early gainers while TCS, L&T and NTPC were losers.

Global Markets:-

  • Asian markets are higher today as Japanese and Hong Kong shares show major gains. The Nikkei 225 is up 1.02% while the Hang Seng is up 1.01%. The Shanghai Composite and ASX200 both advances 0.31%.
  • European markets finished higher yesterday with shares in Germany leading the region. The DAX is up 0.50% while France’s CAC 40 is up 0.40% and London’s FTSE 100 is up 0.12%.
  • S. stocks rose on Monday, with Verizon boosting the telecoms sector after the stock got an upgrade, while a deal in semiconductors lifted high-performing tech shares. The Dow Jones Industrial Average rose 72.09 points, or 0.31 percent, to 23,430.33, the S&P 500 gained 3.29 points, or 0.13 percent, to 2,582.14 and the Nasdaq Composite added 7.92 points, or 0.12 percent, to 6,790.71.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended 0.45% higher, as euro continued to fall, while U.S. Treasury Yields rose ahead of the release of the Federal Reserve’s latest meeting minutes, due tomorrow.
  • The benchmark 10-year U.S. Treasury yields rose 2.37% from 2.35% at previous close. Investors now await to see if the minutes provide cues on possibilities of the authority increasing rates in the next review due on Dec. 12 and Dec. 13.