Rupee Lower On Corporate Dollar Bids; Lower Oil Curbs Losses

Rupee Lower On Corporate Dollar Bids; Lower Oil Curbs Losses

22 Jan 2019 01:53 PM

Financial Market Overview

22nd January, 2019

Noon update

Indian Rupee:-

  • The India rupee traded lower against the dollar in thin afternoon trade, as foreign banks bought the greenback, likely for corporate clients. However, lower crude oil prices limited fall in the local unit.
  • The rupee changed hands at 71.43 to a dollar, against 71.2750 at previous close. The currency opened at 71.2225 and extended gains to 71.18 before falling to the day’s low of 71.4550.

 Indian Equities:-

  • Indian shares slipped on Tuesday as investors locked in profits after a five-day rally, while losses in financials and auto stocks dented sentiment.
  • The broader NSE index was down 0.71% at 10,884.30, while the benchmark BSE index was down 0.67% to 36,334.71.

 Global Markets:-

  • Asian markets finished broadly lower with shares in China leading the region. The Shanghai Composite is down 1.18% while Hong Kong's Hang Seng is off 0.89% and Japan's Nikkei 225 is lower by 0.47%.
  • European markets are also lower today. The CAC 40 is down 0.36% while London's FTSE 100 is down 0.59% and Germany's DAX is down 0.56%.
  • Crude oil prices fell, with the benchmark Brent crude oil contract trading lower 0.75% at $62.27 per barrel, as concerns over global economic growth stoked worries over future demand.
  • The dollar index traded higher at 96.40 as demand for safe-haven assets rose but gains were capped due to partial U.S. government shutdown and as no middle ground was reached between the Democrats and the Republicans over funding for security wall along the Mexican border.
  • The Chinese yuan was last trading 0.2% down at 6.8075, its lowest in nearly two weeks.
  • Meanwhile, the pound sterling was down 0.1% at 1.2870 against the dollar, as British Prime Minister Theresa May proposed to seek further concessions from the European Union on a plan to prevent customs checks on the Irish border.







Date : 22-Jan-2019

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