Nov 15 2017

Rupee posts biggest single day gain in over a month

Financial Market Overview

15th November, 2017

Evening Coffee:-                                                                                      



  • The Indian rupee posted its biggest single-session gain in over a month against the dollar, in line with most Asian peers, as stronger-than-expected German economic growth data boosted currencies such as euro, weighing on the greenback.  Dollar sales by foreign banks and a large engineering and construction firm also aided the rupee. However, weak local shares limited further gains in the currency.
  • The rupee ended at 65.21 to a dollar, against 65.42 at previous close. It had opened little changed at 65.43. The session marked the rupee’s largest single-day gain since Oct. 4.

Indian Equities:-

  • Indian shares ended lower on Wednesday as falling global commodity prices pushed metal shares such as Vedanta Ltd down, while consumer stocks such as ITC Ltd also weighed on the indexes.
  • The broader NSE index closed 0.67 percent down at 10,118.05, its lowest in more than a month. The benchmark BSE index was down 0.55 percent at 32,760.44, a three-week low. Both the indexes posted their third straight day of losses.
  • Vedanta Ltd fell 4 percent, while ITC Ltd ended 1.1 percent down.

Global Markets:-

  • European markets are lower today with shares in Germany off the most. The DAX is down 1.33% while France’s CAC 40 is off 0.65% and London’s FTSE 100 is lower by 0.53%.
  • Asian markets finished broadly lower today with shares in Japan leading the region. The Nikkei 225 is down 1.57% while Hong Kong’s Hang Seng is off 1.03% and China’s Shanghai Composite is lower by 0.79%.
  • The Office for National Statistics said U.K average weekly earnings including bonuses rose by an annual 2.2% in the three months to September, compared with an upwardly revised 2.3% in the period to August. Economists had expected wage growth of 2.1%. Excluding bonuses – which analysts say gives a better picture of the underlying trend – wages rose by 2.2% year-on-year, unchanged from the previous period and in line with forecasts.
  • US. inflation data is due later today, and the Fed’s next monetary policy is due on Dec. 12 and Dec. 13, where the monetary authority is widely expected to raise interest rates for a third time this year.