Rupee opens lower as Crude oil prices gain

Financial Market Overview

11th January, 2018

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Rupee opens lower at 63.65 as crude oil prices continue to climb. Pair USDINR now at 63.72 against 63.59 previous close.
  • Pair to tip in range between 63.55-63.85 today.

Indian Equities:-

  • Equity benchmarks were flat in opening on Thursday as investors await third quarter earnings of Infosys, TCS and IndusInd Bank.
  • The 30-share BSE Sensex was down 2.74 points at 34,430.33 and the 50-share NSE Nifty fell 7.20 points to 10,625.
  • About 780 shares advanced against 536 declining shares on the BSE. Infosys, Hindalco and HCL Technologies were early gainers. Wipro, Yes Bank, Bajaj Finance, Cipla, HPCL, L&T, Eicher Motors, Axis Bank and ICICI Bank were early losers.

Global Markets:-

  • Asian markets are lower today . The ASX200 is down 0.57% . The Hang Seng fell 0.19% and Shanghai Composite is trading lower by 0.15%.
  • Three major U.S. stock indexes ended lower on Wednesday after a choppy trading session as investors worried that China would slow U.S. government bond purchases and that U.S. President Donald Trump would end a key trade agreement. The Dow Jones Industrial Average fell 16.67 points, or 0.07 percent, to 25,369.13, the S&P 500 lost 3.06 points, or 0.11 percent, to 2,748.23 and the Nasdaq Composite dropped 10.01 points, or 0.14 percent, to 7,153.57.
  • European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.23%, while the DAX led the CAC 40 lower. They fell 0.78% and 0.35% respectively.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended down 0.2% overnight, amid reports that China was ready to slow or halt its purchases of U.S. Treasuries.
  • Chinese officials reviewing foreign-exchange holdings have recommended slowing or halting purchases of U.S. Treasuries.
  • Brent crude rose the third straight day overnight, closing in on $70 barrel mark; trading little changed at $69.22 in early Asian hours.