Rupee opens steady to higher as Dollar slips

Financial Market Overview

05th January, 2018

Morning Coffee:-                                                                                  



  • Rupee opens marginally higher at 63.35 as dollar resumes declines. Pair USDINR now at 63.33, lowest since July 2015, against 63.40 previous close.
  • Pair to tip in range between 63.25-63.45 today.

Indian Equities:-

  • Benchmark indices rallied further in morning, hitting fresh record highs on broad based buying.
  • The 30-share BSE Sensex was up 169.90 points at 34,139.54 and the 50-share NSE Nifty rose 46.20 points to 10,551. About three shares advanced for every share falling on the BSE.

Global Markets:-

  • Asian markets are higher today . The Shanghai composite is up 0.23% . The Hang Seng rose 0.18% and ASX200 is trading higher  by 0.76%.
  • The Dow industrials broke above the 25,000 level for the first time yesterday . The Dow Jones Industrial Average rose 152.45 points, or 0.61 percent, to 25,075.13, the S&P 500 gained 10.93 points, or 0.40 percent, to 2,723.99 and the Nasdaq Composite added 12.38 points, or 0.18 percent, to 7,077.92.
  • European markets finished broadly higher yesterday with shares in France leading the region. The CAC 40 is up 1.55% while Germany’s DAX is up 1.46% and London’s FTSE 100 is up 0.32%.
  • The dollar index, which measures the greenback against a basket of six major rivals, fell 0.33% in an overnight trade, as the euro inched higher amid narrowing spreads in U.S.-euro zone debt yields and strong growth data in the region. The single currency rose to a day’s high of 1.2089 yesterday, its highest since Sept. 8, 2017.
  • A stronger-than-expected U.S. private jobs report also failed to support the greenback. The ADP National Employment Report showed private employers of the world’s largest economy added 250,000 jobs in December, marking the biggest monthly increase since March, and significantly higher than economists’ expectations for 190,000 jobs in a poll. The November data was revised down to 185,000 from an originally reported 190,000 increase.
  • Markets now awaits the U.S. non-farm payrolls report, due later today, which is expected to show job gains of 190,000 for December.