Jul 24 2018

Rupee moved close to its record low in afternoon session

Financial Market Overview

24th July, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee fell in afternoon trade and moved close to its record low against the dollar, as an overnight jump in long-term U.S. Treasury yields to an over one-month high boosted greenback demand.
  • The rupee was last seen at 68.96 to a dollar against a previous close of 68.86. Most Asian peers were also trading weaker against the greenback. The rupee fell to as much as 69.0825 but came off lows on some dollar sales.

Indian Equities:-

  • Indian shares gained for the third straight session on Tuesday, with the benchmark BSE index hitting a record, as cement and auto stocks surged on hopes of improved results, while reports suggested a surge in exports to BRICS nations.
  • The Sensex is up 85.43 points or 0.23% at 36804.03, and the Nifty up 37.10 points or 0.33% at 11021.85.

Global Markets:-

  • Asian markets finished higher as of the most recent closing prices. The Shanghai Composite closed with sharp gains by 1.62%  higher and the Hang Seng rose 1.44%.
  • European markets are higher today. The Germany’s DAX is higher by 0.50%, the France’s CAC 40 gains 0.48% and the London’s FTSE100 rose 0.14%.
  • German private sector activity picked up to the fastest pace in five months in July, according to survey data released on Tuesday. The preliminary reading of the Markit manufacturing purchasing managers’ index came in at a three month high of 57.3 this month from 55.9 in June. Economists had forecast a reading of 55.5.