Jul 11 2018

Rupee little changed as exporter Dollar sales offsets US-China trade conflict

Financial Market Overview

11th July, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee was little changed against the dollar in afternoon trade, as greenback sales by exporters and fall in crude oil prices limited losses from weakness in the Chinese yuan after U.S. threatened to slap more tariffs on Chinese goods.
  • The rupee was last seen at 68.82 to a dollar, against 68.83 at previous close. It opened little changed at 68.82 and fell to the day’s low of 68.89, before rising to 68.81. Most Asian currencies were trading lower against the greenback.

Indian Equities:-

  • Equity benchmarks have continued to trade in their flat moves. The Sensex has managed to hold 36,000-mark, while the Nifty is trading around 10,950.
  • The Sensex gains 34.35 points or 0.09% at 36273.97, while the Nifty is even at 10947.00.

Global Markets:-

  • Asian markets finished broadly lower today with shares in China leading the region. The Shanghai composite lost 1.78% and the Hong Kong’s Hang Seng closed up by 1.51%.
  • European markets are lower today with shares in London leading the region. The FTSE100 is down 1.20%, Germany’s DAX lost 1.15% and the France’s CAC is trading lower by 0.92%.
  • Brent crude oil prices was last trading 1.03% lower at $78.05 per barrel, erasing overnight gains of 1%, on escalating trade war worries between two of the world’s largest economies and on reports that U.S. may soften stance on sanctions on Iran.