Rupee opens higher on broad Dollar weakness

Financial Market Overview

26th February, 2018

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Rupee higher tracking broad dollar weakness and as local equities extend gains. Pair USDINR now at 64.65 against 64.73 previous close.
  • Pair to tip in range between 64.60-64.80.

Indian Equities:-

  • Equity benchmarks began the week on a positive note, tracking positive global cues.
  • The Sensex is up 109.15 points or 0.32% at 34251.30, while the Nifty is up 33.30 points or 0.32% at 10524.30. The market breadth is positive as 510 shares advanced, against a decline of 123 shares, while 102 shares are unchanged.

Global Markets:-

  • Asian Shares are higher today, the Shanghai Composite is up 0.2% , the Hong Kong’s Hang Seng is trading higher by 0.60% and the Australian ASX200 gains 0.49%.
  • European markets finished mixed as of the most recent closing prices. The DAX gained 0.18% and the CAC 40 rose 0.15%. The FTSE 100 lost 0.11%.
  • U.S. stocks rallied on Friday, lifted by gains in technology stocks and a retreat in Treasury yields as the Federal Reserve eased concerns about the path of interest rate hikes this year. The Dow Jones Industrial Average  rose 348.61 points, or 1.4 percent, to 25,311.09, the S&P 500 gained 43.44 points, or 1.61 percent, to 2,747.4 and the Nasdaq Composite added 127.30 points, or 1.77 percent, to 7,337.39.
  • The dollar was trading lower against most regional currencies and the dollar index was down 0.1% in early Asia trading, as Treasury yields continued to pull back from four-year highs. The 10-year U.S. borrowing cost was last down to 2.86%, hovering near its lowest level in over a week. The focus for currency and fixed income markets this week will be on Federal Reserve Chair Jerome Powell’s Congressional testimony on monetary policy and the economy that begins Tuesday.