Jan 31 2018

Rupee lower as local equities extends decline

Financial Market Overview

31st January, 2018

Morning Coffee:-                                                                                  



  • Rupee opens lower against the Dollar at 63.67 as domestic equity market extends declines. Pair USDINR now at 63.71 against 63.60 previous close.
  • Pair to tip in range between 63.60-63.80 today.

Indian Equities:-

  • The market began the session on a mildly lower note, with the Nifty holding 11,000-mark.
  • The Sensex is down about 25.75 points or 0.07% at 36,007.98, while the Nifty was down 9.90 points or 0.09% at 11039.80. The market breadth still continues to be negative as 413 shares advanced, against a decline of 639 shares, while 140 shares are unchanged.
  • Bharti Airtel, Tata Steel, and Indian Oil gained the most on both the indices, while Hindustan Unilever, Dr Reddy’s Laboratories and Indiabulls Housing were the top losers.

Global Markets:-

  • Asian markets are higher today ,the Honk Kong Hnag Seng is up 0.42%, the ASX200 gains by 0.28% and the Shanghai Composite is trading higher by 0.17%.
  • European markets finished broadly lower today with shares in London leading the region. The FTSE 100 is down 1.09% while Germany’s DAX is off 0.95% and France’s CAC 40 is lower by 0.87%.
  • S. stocks fell for the second straight day on Tuesday as healthcare stocks and rising bond yields weighed on all three major U.S. indexes. The Dow Jones Industrial Average fell 361.83 points, or 1.37 percent, to 26,077.65, the S&P 500 lost 31.06 points, or 1.09 percent, to 2,822.47 and the Nasdaq Composite dropped 64.02 points, or 0.86 percent, to 7,402.48.
  • Dollar index edges lower by 0.1%, adding to overnight loss of 0.2%. Fed later today expected to leave interest rates unchanged; markets to focus on any changes to inflation assessment. Trump in his State of Union address urges US Congress to pass legislation to stimulate at least $1.5 trillion in new infrastructure spending.
  • China reported its official manufacturing PMI at 51.3, missing a 51.5 level expected for January, a dip down from 51.6 in December. The non-manufacturing PMI rose to 55.3, compared to a steady 55.0 seen. The private Caixin/Markit manufacturing PMI is due on Thursday with a 51.3 level seen in January, a slight fall from 51.5 in December.