Mar 15 2018

Rupee remains lower on weak local equities

Financial Market Overview

15th March, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee stayed lower against the dollar in afternoon trade and was headed for its first loss in four sessions, tracking weak local shares and poor global risk appetite as U.S. President Donald Trump’s protectionist agenda sparked fears of trade war between U.S. and China.
  • The rupee was last seen at 64.90 to a dollar against 64.82 at close yesterday. Most other Asian currencies were also lower against the greenback.

Indian Equities:-

  • Benchmark indices extended losses amid volatility in afternoon, with the Sensex falling over 100 points weighed by banking & financials and oil & gas stocks.
  • The 30-share BSE Sensex was down 128.81 points at 33,707.93 and the 50-share NSE Nifty fell 41.75 points to 10,369.15.

Global Markets:-

  • European markets are higher today with shares in Germany leading the region. The DAX is up 0.44% while France’s CAC 40 is up 0.33% and London’s FTSE 100 is up 0.13%.
  • Asian markets finished mixed as of their recent closing prices. The Hang Seng gained 0.33% while the Nikkei 225 was higher by 0.12%. The Shanghai Composite was even.
  • The U.S. has challenged India’s export subsidies at the World Trade Organization yesterday, U.S. Trade Representative Robert Lighthizer.
  • Risk sentiments were also soft on the back of tensions between Britain and Russia. The Russian Foreign Ministry said it would retaliate after 23 of the country’s diplomats were expelled by British Prime Minister Theresa May.
  • The dollar index, which measures the greenback against a basket of six major currencies, ended marginally higher overnight. It was last trading flat.