Aug 09 2018

Rupee opened higher as crude suffered the biggest fall in 3 weeks

Financial Market Overview

09th August, 2018

Morning Update:-                                                                             

MARKETS AT Open:-

Rupee:-

  • The Indian rupee is opened higher against the dollar after Brent crude suffered its biggest decline in three weeks.Rupee is opened at 68.48 versus the dollar compared with its previous close of 68.62
  • We expect the pair to trade in the range between 68.40-68.65 today.

Indian Equities:-

  • The bulls continues their upward momentum as equity benchmarks have start the day on a strong note, with Nifty, Sensex and Nifty Bank opened at record high.
  • Sensex touched 38,000 for the first time, while Nifty is trading around 11,500.
  • The Sensex is up 117.47 points at 38,005.03, and the Nifty up 27.70 points at 11,477.70. About 671 shares have advanced, 348 shares declined, and 61 shares are unchanged. All sectoral indices are trading in the green, with maximum gain seen in metal, energy and PSU banks.

Global Markets:-

  • Asian markets are higher today as Japanese shares are lower today as the Nikkei 225 falls 0.13%. while the Hang Seng is up 0.89%.The Shanghai composite trading higher it gains by1.78%.The Australian’s ASX200 is posative by 0.67%
  • European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.75%, while the CAC 40 led the DAX lower. They fell 0.35% and 0.12% respectively.
  • The S&P 500 ended flat on Wednesday as energy share declines and trade jitters kept gains in check. The Nasdaq posted its seventh consecutive daily advance.
  • Based on the latest available data, the Dow Jones Industrial Average fell 45.16 points, or 0.18 percent, to 25,583.75, the S&P 500 lost 0.75 points, or 0.03 percent, to 2,857.7 and the Nasdaq Composite added 4.66 points, or 0.06 percent, to 7,888.33.
  • The dollar index declined for the second day on Thursday after 10-year Treasury yields dipped towards 2.96%. The yuan was trading down 0.3% to 6.8170 against the dollar.
  • Oil prices were not helped by a report by the Energy Information Administration that showed that the U.S. crude stocks fell by 1.4 million barrels last week, less than the 2.3 million barrels expected by analysts surveyed by the Wall Street Journal.
  • The U.S. dollar’s march higher against major currencies will run out of road within the next six months. U.S. trade representative’s office said on Tuesday it would begin collecting 25 percent tariffs on another $16 billion of goods imported from China later this month, and China has vowed to retaliate to an equal degree.