Rupee remained lower on importers Dollar demand

Rupee remained lower on importers Dollar demand

08 Jan 2019 02:07 PM

Financial Market Overview

08th January, 2019

Noon Update:-                                                                                  



  • The Indian rupee remained lower against the dollar in thin afternoon trade, on greenback demand from importers and as higher oil prices weighed on investor sentiment. The rupee changed hands at 70.14 to a dollar, against 69.68 at yesterday’s close. It opened at 69.80 and extended losses to 70.16. Most Asian currencies were trading lower against the greenback

Indian Equities:-

  • Indian shares pushed down slightly on Tuesday, as investors booked some profits and waited on the sidelines for further cues ahead of the start of another corporate earnings season. Corporate results season will begin on Thursday with top software services exporters Tata Consultancy Services Ltd reporting results.
  • The broader NSE index was down 0.06 percent at 10,764.90, while the benchmark BSE index was trading 0.02 percent lower at 35,844.00.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.82%, while the Shanghai Composite led the Hang Seng lower. They fell 0.26% and 0.03% respectively.
  • European markets are higher today with shares in France leading the region. The CAC 40 is up 0.25% while Germany's DAX is up 0.16% and London's FTSE 100 is up 0.24%.
  • Brent crude price was headed for a seventh session of gains, on optimism over likely end to U.S.-China trade war dispute, as the talks are currently underway in Beijing. The benchmark Brent crude oil contract was trading 0.3% higher at $57.51 per barrel. It rose as much as $58.93 in overnight trade, a three-week high.
  • The dollar index traded 0.2% higher after shedding 0.5% yesterday amid bets that the Federal Reserve was in no hurry to raise rates. Earlier this week, Fed Chairman Jerome Powell said that the authority was prepared to “adjust policy quickly and flexibly” if necessary, to keep the U.S. expansion on track. While the economy looks robust, the markets may be pricing in downside risks and that the Fed was “listening carefully.



Date : Jan-2019