Feb 23 2018

Rupee opens higher on Dollar weakness and strong equities

Financial Market Overview

23rd February, 2018

Morning Coffee:-                                                                                  



  • Indian Rupee open higher against the dollar at 64.95, after the greenback’s recent rally fizzled out amid a slight pullback in the U.S. treasury yields overnight. Pair USDINR now at 64.86 against 65.04 at previous close.
  • Pair to tip in range between 64.75-64.97.

Indian Equities:-

  • Equities have begun the day on a positive note, with the Nifty clocking 10,400 in the first few minutes of the trade.
  • The Sensex is up 98.71 points or 0.29% at 33918.21, and the Nifty is up 36.40 points or 0.35% at 10419.10. The market breadth is positive as 554 shares have advanced, 216 shares declined, while 94 shares are unchanged.

Global Markets:-

  • Asian Shares are higher today, the Australian ASX200 is up 0.84% , the Hong Kong’s Hang Seng is trading higher by 0.62% and the Shanghai Composite gains 0.09%.
  • European markets finished mixed as of the most recent closing prices. The CAC 40 gained 0.13%, while the FTSE 100 led the DAX lower. They fell 0.40% and 0.07% respectively.
  • S. stocks advanced on Thursday, putting major indexes on track to snap a recent spate of declines, buoyed by gains in industrial and energy shares as U.S. Treasury yields eased. The Dow Jones Industrial Average  rose 252.78 points, or 1.02 percent, to 25,050.56, the S&P 500 gained 13.22 points, or 0.49 percent, to 2,714.55 and the Nasdaq Composite added 15.53 points, or 0.22 percent, to 7,233.76.
  • The dollar index, which measures the greenback against a basket of six major rivals, rose to an over one-week high intraday before dropping sharply to end off 0.3% overnight, tracking a rally in the Japanese yen, which ended up 0.95% against the greenback yesterday. The index was last trading up 0.11%. The U.S. 10-year yield ended at 2.917% yesterday, lower than 2.941% at previous close but still close to the highest levels since 2014.
  • Minutes of the European Central Bank’s latest policy meet showed members rejected a shift in its policy language as it was too early to signal normalisation of policy.