May 10 2018

Rupee opened little changed as Dollar index halted its 3-day gains

Financial Market Overview

10th May, 2018

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Indian rupee opened little changed today at 67.33 as the dollar index halted its three-day gains, helping offset the impact from fresh three-year high crude oil prices. Pair USDINR now at 67.40, against 67.26 previous close.
  • Pair to tip in range between 67.23-67.47.

Indian Equities:-

  • D-Street has begun the trading session on a good note. The Sensex is up over 100 points, while the Nifty is firmly above 10,750-mark.
  • The Sensex is up 117.29 points at 35436.64, while the Nifty is up 33.30 points at 10775.00. The market breadth is positive as 497 shares advanced, against a decline of 362 shares, while 55 shares are unchanged.

Global Markets:-

  • Asian markets are higher today. The Hong Kong’s Hang Seng is up 0.87%, the Shanghai  Composite gains 0.19% and the Australian’s ASX200 is trading higher by 0.17%.
  • European markets finished broadly higher on Wednesday with shares in London leading the region. The FTSE 100 is up 1.28% while Germany’s DAX is up 0.24% and France’s CAC 40 is up 0.23%.
  • Wall Street surged on Wednesday as surging oil prices boosted energy stocks following U.S. President Donald Trump’s decision the previous day to quit a nuclear agreement with Iran. The Dow Jones Industrial Average rose 0.75 percent to end at 24,542.54 points, while the S&P 500 gained 0.97 percent to 2,697.79. The Nasdaq Composite added 1 percent to finish the session at 7,339.91.
  • China’s producer inflation picked up for the first time in seven months in April. The producer price index (PPI) rose 3.4 percent in April from a year ago, accelerating from a 17-month low of 3.1 percent in March, the National Bureau of Statistics (NBS) said on Thursday. On a month-on-month basis, it declined 0.2 percent.
  • The dollar index ended a three-day winning run, edging lower on Wednesday, helped by the bounce back in the euro from its lowest level this year and as investors eyed the U.S. consumer inflation data later today. Meanwhile, data released yesterday showed that U.S. producer price index for final demand edged up 0.1% last month after increasing 0.3% in March. That lowered the year-on-year increase in the PPI to 2.6% in April from 3% in the prior month.
  • Brent crude prices jumped more than 3% yesterday, its best session in more than a month, as markets assessed the impact of the U.S. decision to pull out of the Iran nuclear deal. With India importing more than two-third of its crude oil requirements.