Dec 07 2017

Rupee opens steady on lack of cues

Financial Market Overview

07th December, 2017

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Indian rupee open steady against the dollar at 64.50, as traders await fresh triggers and will keep an eye on the shares’ movement, while lackluster U.S. data may restrict gains in the greenback. Pair USDINR now at 64.53 against 64.52 previous close.
  • Pair to tip in range between today 64.40-64.60.

Indian Equities:-

  • Equity benchmarks bounced back in opening, backed by short covering in beaten down stocks like banks, auto and metals stocks. The Sensex had fell more than 200 points in previous session.
  • The 30-share BSE Sensex was up 87.41 points at 32,684.59 and the 50-sahre NSE Nifty gained 28.40 points at 10,072.50.
  • JSW Steel, Tata Steel, SAIL, Aurobindo Pharma, GAIL, HPCL, Tech Mahindra, Eicher Motors, Bharti Airtel and Reliance Industries were early gainers while Bharti Infratel, Power Grid and UltraTech Cement were under pressure.

Global Markets:-

  • Asian markets are mixed today . The Hang Seng is up 0.03% . The Shanghai Composite is by off 0.62% and ASX200 is trading higher by 0.58%.
  • S. stocks were mixed after the close on Wednesday, as gains in theTechnology, Utilities and Consumer Goods sectors led shares higher while losses in theOil & Gas, Telecoms and Basic Materials sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average fell 0.16%, while the S&P 500index declined 0.01%, and the NASDAQ Composite index climbed 0.21%.
  • European markets finished lower yesterday with shares in France leading the region. The CAC 40 is down 0.26% while London’s FTSE 100 is off 0.16% and Germany’s DAX is lower by 0.08%.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended 0.25% higher overnight, marking a third consecutive session of gains.
  • The ADP National Employment Report showed yesterday, U.S. private employers added 190,000 jobs last month, down from an unrevised 235,000 in October and was roughly in line with economists’ expectations of a gain of 185,000 in a  poll.