Jan 03 2018

Rupee lower tracking recovery in Dollar index

Financial Market Overview

03rd January, 2018

Morning Coffee:-                                                                                  



  • Rupee lower tracking recovery in dollar against most Asian currencies. Pair USDINR now at 63.57 against 63.48 previous close.
  • Pair to tip in range between 63.45-63.70 today.

Indian Equities:-

  • Equity benchmarks have witnessed a positive start on Wednesday , with the Sensex rising over 100 points, while the Nifty was above 10,450-mark.
  • The Sensex is up 135.66 points or 0.40% at 33947.92, and the Nifty up 40.30 points or 0.39% at 10482.50. The market breadth is healthy as 601 shares have advanced against a decline of 172 shares, while 504 shares are unchanged.
  • Midcaps were trading in the positive zone after it fell around one percent on Tuesday. Reliance Industries and ICICI Bank are the top gainers, while Dr Reddy’s Labs, ONGC and Aurobindo Pharma have lost the most.

Global Markets:-

  • Asian markets are higher today . The Shanghai composite is up 0.91% . The Hang Seng rose 0.32% and ASX200 is trading higher  by 0.12%.
  • S. stocks rose on Tuesday in the first session of the new year, pushing the S&P 500 and Nasdaq to record closing highs, as investors were optimistic that 2018 will bring more gains for the market.  The Dow Jones Industrial Average rose 104.79 points, or 0.42 percent, to 24,824.01, the S&P 500 gained 22.18 points, or 0.83 percent, to 2,695.79 and the Nasdaq Composite added 103.51 points, or 1.5 percent, to 7,006.90.
  • European markets finished lower yesterday with shares in London leading the region. The FTSE 100 is down 0.52% while France’s CAC 40 is off 0.45% and Germany’s DAX is lower by 0.36%.
  • Dollar index up 0.1%, rebounding from over 3-month lows; index slipped 0.3% overnight, as Euro climbed to near three-year highs following ECB official Benoit Coeure comments that bank’s bond purchases may not be extended beyond September.
  • IHS Markit’s December final manufacturing Purchasing Managers’ Index for the Eurozone came in at 60.6, matching earlier preliminary reading and crossing November’s 60.1. Yesterday’s print was the highest since the survey’s start in June 1997.