Aug 20 2018

Rupee opened higher as dollar index suffered its biggest decline in a month

Financial Market Overview

20th August, 2018

Rupee:-

  • The Indian rupee gained in the early trade on Monday. It has opened strong at 69.83 per dollar, a gain of 32 paise versus previous close 70.15. The relative performance of the rupee vis-à-vis other regional currencies would be closely watched this week after the Indian unit was not able to manufacture a rebound in the latter half of last week despite easing of pressures on the Turkish lira,
  • We expect the pair to trade in the range between 69.75- 70.10 today.

Indian Equities:-

  • Strong start for the D-Street, following positive global cues as Nifty surpassed 11,500 for the first time,
  • Sensex is up around 150 points. The Nifty Midcap index is also up over half a percent. Sensex is up 154.63 points or 0.41% at 38102.51, and the Nifty up 41.40 points or 0.36% at 11512.20. About 688 shares have advanced, 243 shares declined, and 57 shares are unchanged.

Global Markets:-

  • Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.16% while the Hang Seng is up 0.69%.The Nikkei 225 is up 0.18%.The Australian’s ASX200 is positive too today by -3.5 points and 0.06% up.
  • European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.03%, while the DAX led the CAC 40 lower. They fell 0.22% and 0.08% respectively.
  • S. stocks closed higher on Friday, with the S&P 500 and the Dow Jones Industrial Average extending gains and the Nasdaq turning positive on reports of progress in trade disputes between the United States and its trading partners China and Mexico.
  • The Dow Jones Industrial Average rose 110.59 points, or 0.43 percent, to 25,669.32, the S&P 500 gained 9.44 points, or 0.33 percent, to 2,850.13 and the Nasdaq Composite added 9.81 points, or 0.13 percent, to 7,816.33.
  • The dollar index suffered its biggest decline in a month on Friday and the Chinese yuan led a majority of Asian currencies higher at the beginning of the week ahead of trade talks between Chinese and U.S. officials in Washington, scheduled for tomorrow and the day after. The dollar index had earlier last week climbed to its highest level in the wake of heightening trade tensions between the two world’s largest economies