Jul 26 2018

Rupee off day’s high tracking weak Chinese Yuan

Financial Market Overview

26th July, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee came off the day’s high against the dollar in afternoon trade, as broad weakness in the Chinese yuan trimmed early gains following a drop in the greenback after the European Union and the U.S. agreed to work towards lowering trade tariffs.
  • The rupee changed hands at 68.69 to a dollar, against 68.78 at close yesterday. It rose to the day’s high of 68.6225, highest since Jul. 18 in early trade. Most other Asian peers were trading mixed against the greenback

Indian Equities:-

  • Indian equity markets posted its record high today with the benchmark BSE index breaching 37,000 for the first time, led by banks, ahead of derivatives expiry later in the day.
  • The broader NSE index was up 0.30% at 11,165.05 while the BSE index was 0.35% higher at 36,986.71 after hitting life-highs for the third straight session.

Global Markets:-

  • Asian markets finished lower as of the most recent closing prices. The Shanghai Composite closed  lower by 0.71%  and the Hong Kong Hang Seng ended lower by 0.48%.
  • European markets are higher today. The Germany’s DAX is trading higher by 1.33% while the France’s CAC 40 gains by 0.68% and the London’s FTSE100  rose by 0.11% .
  • The yuan was fell by 0.24% at 6.7823 against the dollar today, off its day’s high of 6.7366.
  • The dollar index, measured against a basket of currencies, was last trading lower by 0.26%.
  • Market participants now waiting for the European Central Bank’s policy outcome later today. At its last meeting, the ECB said it will end its bond purchases in December and remarked it expects interest rates to remain unchanged at least well into next year.