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Feb 12 2018

Rupee opens higher as equities rebound

Financial Market Overview

12th February, 2018

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Indian Rupee open higher against the dollar at 64.29, as global markets look to settle after bouts of massive risk-related sell-off last week, which also impacts local shares as well. Pair USDINR now at 64.25, against 64.40 previous close.
  • Focus on India’s CPI and Industrial Production data, due after market today.
  • Pair to tip in range between 64.20-64.40 today.

Indian Equities:-

  • Benchmark indices as well as broader markets opened the truncated week sharply higher on Monday, driven by bargain hunting after sell-off last week.
  • The 30-share BSE Sensex was up 212.02 points at 34,217.78 and the 50-share NSE Nifty gained 69.10 points at 10,524.10.

Global Markets:-

  • Asian markets are mixed today ,the Hang Seng is up 0.78%, the Shanghai Composite gains 0.80% while the Australian ASX200 is trading lower by 0.12%.
  • European markets finished sharply lower on Friday with shares in France leading the region. The CAC 40 is down 1.41% while Germany’s DAX is off 1.25% and London’s FTSE 100 is lower by 1.09%.
  • Wall Street’s main stock indexes climbed more than 1 percent on Friday, giving investors some solace after a week of huge swings that shook the market out of months of calm. The Dow Jones Industrial Average rose 330.44 points, or 1.38 percent, to 24,190.9, the S&P 500  gained 38.55 points, or 1.49 percent, to 2,619.55 and the Nasdaq Composite added 97.33 points, or 1.44 percent, to 6,874.49.
  • Dollar index down 0.3%, after advancing 1.4% last week – biggest weekly jump in over a year. Focus this week on US bond yields and inflation. US January CPI data due Wednesday; headline CPI expected to ease to 1.9% from 2.1% in December.