Nov 13 2017

Rupee opens lower as US treasury yields rise, Pound slips

Financial Market Overview

13th November, 2017

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Rupee opens lower as spike in US Treasury yields and fall in pound boosts greenback; pair USDINR now at 65.37, highest since October 10, against 65.16 previous close.
  • Data released on Friday showed, India’s industrial output rose 3.8% in September from a year earlier, the slowest pace of expansion since July. The reading trailed August’s revised expansion of 4.5%, and lagged the 4.2% median estimate in a poll of economists.
  • Pair to tip in range between today 65.25-65.50.

Indian Equities:-

  • Benchmark indices began the week on a flat note, with the Nifty trading around 10,300- levels.
  • The Sensex was up 36.87 points at 33351.43, while the Nifty was up 0.50 points at 10322.30. The market breadth was positive as 712 shares advanced against a decline of 305 shares, while 53 shares were unchanged.
  • Axis Bank and M&M were the top gainers, while L&T and Coal India were the top losers on both indices.

Global Markets:-

  • Asian markets are mixed today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.38% while the Hang Seng is up 0.23%. The Nikkei 225 is trading down 0.69%.
  • S. stocks were mixed at the close on Friday, as gains in the Consumer Goods, Consumer Services and Telecoms sectors led shares higher while losses in the Oil & Gas, Healthcare and Utilities sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average fell 0.17%, while the S&P 500 index declined 0.09%, and the NASDAQ Composite index added 0.01%.
  • European markets finished lower on Friday with shares in London leading the region. The FTSE 100 is down 0.68% while France’s CAC 40 is off 0.50% and Germany’s DAX is lower by 0.42%.
  • Britain will not provide a figure or a formula on how much it believes it owes the European Union, Brexit minister David Davis said. The EU had demanded that Britain details its approach to the final bill. This sparked fears of Britain missing a December deadline to unblock talks to discuss future trade ties.
  • Dollar index +0.1% at 94.526 following six basis points rise by long-term U.S. Treasury yields on Friday. Pound down 0.5% at $1.3119 on report that 40 Conservative MPs readying leadership challenge, while Brexit talks face crucial deadline.