Jul 13 2018

Rupee remained higher and heading for its best weekly gain in six weeks

Financial Market Overview

13th July, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee stayed higher against the dollar in afternoon trade and was heading for its biggest weekly rise in six weeks, as subdued global crude oil prices outweighed broad greenback strength and ongoing trade conflicts between the U.S. and China.
  • The rupee was last seen at 68.48 to a dollar, against 68.57 at previous close. It opened higher at 68.37 and rose to the day’s high of 68.33, also highest since Jul. 2, and led gains in the region. Most Asian currencies also rebounded against the greenback

Indian Equities:-

  • Indian Equities are trading marginally higher, and the Nifty has continued to hold its key on 11,000-mark.
  • The Sensex is up 78.04 points or 0.21% at 36626.45, and the Nifty gains 13.70 points or 0.12% at 11036.90. The market breadth is negative as 625 shares advanced, against a decline of 1,578 shares, while 127 shares were unchanged.

Global Markets:-

  • Asian markets finished mixed today. The Shanghai Composite closed down 0.22% and Hong Kong’s Hang Seng rose by 0.10%.
  • European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.72% while Germany’s DAX is up 0.68% and France’s CAC 40 is up 0.57%.
  • The Chinese yuan was down 0.16% at 6.6735 against the dollar. Earlier today, it reported that the dollar-denominated imports rose 14.1% last month and exports increased 11.3%, posting a trade surplus of $41.61 billion in June against analysts’ expectation of $27.61 billion in poll and $24.92 billion in May.
  • The dollar index, measured against a basket of currencies, was last trading up 0.3% at 95.10, extending an overnight gain of 0.1%, after U.S. consumer prices rose 0.1% on-month in June. Excluding the volatile food and energy components, the CPI rose 0.2%, in-line with expectations.