Oct 10 2018

Rupee opened higher as report of fundraising from NRIs

Financial Market Overview

10Th October, 2018

Morning Coffee:-                                                                        

MARKETS AT OPEN:-

Rupee:-

  • The Indian rupee gained in the early trade on Wednesday. It opened higher by 24 paise at 74.15 per dollar versus previous close 74.39. On Tuesday rupee ended at a fresh record low of 74.39 per US dollar.
  • A media report that policymakers are considering tapping citizens overseas for dollar flows as early as this month. Falling Treasury yields, which propped up Asian currencies, are also expected to support the rupee.
  • We Expect Pair to trade in the range between 73.9 to 74.40

Indian Equities:-

  • D-Street has begun the day on a positive note, with the Sensex gaining 100 points, while the Nifty is above 10,300-mark. Automobiles, infra, banks and consumer names are gaining, while Nifty IT index is trading in the red.
  • The Sensex is up 116.98 points or 0.34% at 34416.45, while the Nifty is higher by 26 points or 0.25% at 10327.00. The market breadth is positive as 335 shares advanced, against a decline of 151 shares, while 2,878 shares were unchanged.

Global Markets:-

  • Asian markets are mixed today as Japanese, Chinese SSE fall by -0.18% shares fall where Hong kong shares gain by 0.32% . The Nikkei 225 is off 0.26% And the australian ASX200 is gain by 04 points and 0.07 positive.
  • European markets finished higher yesterday with shares in France leading the region. The CAC 40 is up 0.35% while Germany’s DAX is up 0.25% and London’s FTSE 100 is up 0.06%.
  • The Dow and S&P 500 ended down slightly on Tuesday as investors, worried about global growth prospects, sold materials and industrials stocks, but falling bond yields kept declines in check.
  • U.S. inflation expectations for both one and three years into the future were unchanged last month, according to a Federal Reserve Bank of New York survey that painted a picture of price stability among consumers. The September survey found median expectations over both time frames were for 3 percent inflation, identical to the August readings. Expectations have remained largely stable since April, though they have drifted higher since last year.
  • U.S. 10-year Treasury yields touched a 7-1/2-year peak of 3.261 percent and those on 30-year bonds hit their highest in more than four years. The 30-year bond yields had risen on the prospect of Federal Reserve rates rising over the next 18 months or so, but later fell back.
  • The dollar dipped due to a fall in U.S. bond yields after touching a seven-week peak against a basket of currencies. The dollar index last traded flat at 95.609. Sterling continued to rise after a report that rekindled hopes that Britain and the European Union are on the brink of a Brexit deal. It last traded up 0.1 percent.