Oct 23 2017

Rupee offset early losses on bunched up Dollar inflows

Financial Market Overview

23rd October, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee was little changed against the dollar in afternoon trade, as banks stepped up greenback sales after a long weekend, trimming initial losses from a strong dollar as the U.S. Senate approved the 2018 budget outline that boosted tax reform hopes.
  • The rupee was last seen at 65.02 to a dollar, as against 65.04 at close on Oct. 18. It fell to the day’s low of 65.11, before recovering all losses and rising to 65.0075.

Indian Equities:-

  • Equity benchmarks trading higher in afternoon, with the Nifty hovering around 10,160 level. Gains in Reliance Industries, ICICI Bank, Infosys and telecom stocks were offset by fall in HDFC and ITC.
  • The 30-share BSE Sensex was up 69.74 points at 32,459.70 and the 50-share NSE Nifty rose 22.60 points to 10,169.15.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 1.11% and the Shanghai Composite rose 0.06%. The Hang Seng lost 0.64%.
  • European markets are higher today with shares in Germany leading the region. The DAX is up 0.37% while France’s CAC 40 is up 0.37% and London’s FTSE 100 is up 0.08%.