Financial Market Overview

17^th July, 2019

Afternoon Update 

Indian Rupee

• The Indian rupee was trading little changed against the dollar compared to previous close as foreign banks’ dollar sales likely for custodial clients offset dollar demand from state-run lenders and a strong dollar on buoyant U.S. retail sales data.
• The rupee changed hands at 68.75 to a dollar against 68.71 at previous close. The local unit opened flat and has traded in narrow range of 14 paise so far.

Indian Equities

• Indian shares edged up in lackluster trade on Wednesday, amid pressure in broader Asian markets.
• The broader NSE index was up 0.03% at 11,666.10, while the benchmark BSE index was 0.06% higher at 39,156.18.

Global Markets

• Asian markets finished lower today as of the most recent closing time. The Nikkei 225 is off 0.31% while China's Shanghai Composite is 0.20% lower and Hong Kong's Hang Seng is down 0.22%.
• European markets are also lower today. The FTSE 100 is off 0.18% while France's CAC 40 is down 0.05% and Germany's DAX is lower by 0.01%.
• The benchmark Brent crude contract fell over 3% yesterday to a one-week low of $63.82 per barrel on hints that U.S. tensions with Iran could be easing and as data showed stockpiles fell by less than expected last week. The contract was last up 0.48% at $64.66 per barrel.
• With ongoing Sino-U.S. trade tensions, impact of slowing global demand was evident after Singapore data showed exports fell more than expected in June, marking their biggest decline in six years.