Nov 30 2017

Rupee opened lower as US. bond yields bouys Dollar

Financial Market Overview

30th November, 2017

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Rupee opens lower at 64.54, as rising US bond yields lift dollar against most Asian currencies. Pair USDINR now at 64.50 against 64.31 previous close.
  • Local investors await India’s July-September economic growth and fiscal deficit data. According to a  poll of economists, India’s gross domestic product growth likely rose 6.4% on year in July-September, against 5.7% in the previous quarter.
  • Pair to tip in range between today 64.35-64.60.

Indian Equities:-

  • Equity benchmarks extended their losses in the morning session, with the Sensex falling over 200 points, while the Nifty traded below 10,300-mark.
  • The Sensex was down 216.40 points at 33386.36, while the Nifty too was down 71.80 points at 10289.50. The market breadth was negative as 764 shares advanced against a decline of 1290 shares, while 81 shares were unchanged.
  • Bajaj Auto and Dr Reddy’s Labs were the top gainers, while Kotak Mahindra, BHEL, and UltraTech Cement lost the most.

Global Markets:-

  • Asian markets are lower today . The Hang Seng is down 1.28%, Shanghai Composite is off 0.26% and ASX200 is off 0.60%.
  • S. stocks were mixed after the close on Wednesday, as gains in theTelecoms, Financials and Consumer Services sectors led shares higher while losses in theTechnology, Basic Materials and Utilities sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average gained 0.44% to hit a new all time high, while the S&P 500 index declined 0.04%, and the NASDAQ Composite index lost 1.27%.
  • European markets finished mixed as of the most recent closing prices on Wednesday. The CAC 40 gained 0.14% and the DAX rose 0.02%. The FTSE 100 lost 0.90%.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended 0.11% lower yesterday, as concerns over progress of U.S. tax reform outweighed upbeat U.S. economic growth data. According to second estimate released yesterday, the world’s largest economy’s gross domestic product expanded at a 3.3% annual rate in the third quarter, the fastest pace since the third quarter of 2014 and quickened from second quarter’s 3.1% rate. Economists polled  had forecasted third-quarter GDP growth at 3.2%.