Nov 21 2017

Rupee keeps gains on strong Indian equities

Financial Market Overview

21st November, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee remained higher against the U.S. currency in afternoon trade, as strength in local and regional shares increased expectations of foreign fund inflows.
  • The rupee was last seen at 64.9350 to a dollar against 65.1050 at close yesterday. The currency opened at 65.08 per dollar and extended losses to 65.1150, before rising to day’s high of 64.9150. Most Asian currencies traded flat to higher against the dollar.

Indian Equities:-

  • Equity benchmarks maintained uptrend but Nifty Bank index was off day’s high in afternoon. Positive Asian and US cues continued to support the market but European stocks are expected to open lower amid German political uncertainty.
  • The 30-share BSE Sensex was up 232.53 points at 33,592.43 and the 50-share NSE Nifty gained 58.70 points at 10,357.47.
  • About 1,512 shares advanced against 938 declining shares on the BSE. Nifty Bank was up only 0.1 percent. Gains due to Yes Bank, ICICI Bank, PNB, Canara Bank and HDFC Bank were offset by selling in SBI, Axis Bank, IndusInd Bank, Kotak Mahindra Bank and Bank of Baroda.

Global Markets:-

  • Asian markets finished broadly higher today with shares in Hong Kong leading the region. The Hang Seng is up 1.85% while Japan’s Nikkei 225 is up 0.70% and China’s Shanghai Composite is up 0.53%.
  • European markets are lower today with shares in France off the most. The CAC 40 is down 0.21% while Germany’s DAX is off 0.15% and London’s FTSE 100 is lower by 0.12%.