May 04 2018

Rupee lower on importers Dollar demand, US jobs data awaited

Financial Market Overview

04th May, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee was lower against the dollar in afternoon trade, as state-run lenders purchased the greenback on behalf of oil importer clients, while sentiment was also cautious ahead of the U.S. non-farm payroll data.
  • The rupee changed was last seen at 66.85 to a dollar, against 66.64 at previous close. It has moved in an 21-paise band so far today. Most Asian currencies were trading mixed against the greenback.

Indian Equities:-

  • The market was reeling under selling pressure, with the Sensex falling more than 150 points but the Nifty Bank traded in the green. The broader markets also traded in line with frontliners, with the Nifty Midcap index falling half a percent.
  • The 30-share BSE Sensex was down 154.23 points at 34,948.91 and the 50-share NSE Nifty declined 46.50 points to 10,633.15. About three shares declined for every two shares rising on the BSE.

Global Markets:-

  • European markets are mixed today. The FTSE 100 is up 0.34% while the DAX gains 0.40%. The CAC 40 is off 0.22%.
  • Asian markets finished broadly lower today with shares in Hong Kong leading the region. The Hang Seng is down 1.28% while China’s Shanghai Composite is off 0.32% and Japan’s Nikkei 225 is lower by 0.16%.
  • The U.S. non-farm payroll data, due later today, is likely to show that the world’s largest economy added 192,000 jobs last month, up from 103,000 in March. Average earnings are forecast to grow by 0.2% on-month and 2.7% on-year.
  • The dollar index, which measures the greenback against a basket of six major rivals, fell 0.1% overnight, halting a three-day winning streak despite upbeat U.S. economic data yesterday showing number of Americans receiving unemployment aid fell to its lowest in more than 40 years while U.S. trade deficit narrowed for the first time in seven months. Factory orders for March also rose.