Financial Market Overview
20th December, 2017
MARKETS AT Noon:-
- Indian rupee remained little changed against the dollar on importers’ greenback demand in a thin-volume trade ahead of a final vote on the U.S. tax legislation later today..
- The rupee was last seen at 64.0450 to a dollar, against 64.03 at close in the previous session. The currency has so far moved in a narrow seven-paisa band after opening at 64.01 per dollar. Most other Asian currencies were higher against the dollar.
- Equity benchmarks continued to trade higher with mild gains while the broader markets outperformed as the Nifty Midcap index gained half a percent.
- The 30-share BSE Sensex was up 83.26 points at 33,920.74 and the 50-share NSE Nifty rose 19.20 points to 10,482.40.
- ONGC, Hindalco Industries, Hero Motocorp, Lupin, GAIL and Tata Motors were top gainers while Dr Reddy’s Labs, HPCL, Eicher Motors, Ambuja Cements, Tata Steel and Adani Ports were under pressure.
- European markets are lower today. The DAX is off 0.72% while the CAC is down 0.69%. The FTSE is lower by 0.14%.
- Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.10%, while the Shanghai Composite led the Hang Seng lower. They fell 0.27% and 0.09% respectively.
- The dollar index, which measures the greenback against a basket of six major rivals, ended down 0.27% overnight, but was last trading up 0.1%, after the U.S. House of Representatives yesterday voted in favor of the tax legislation, but the bill included provisions that did not comply with the Senate rules.
- The Senate is widely expected to vote on a revised bill and send it back to the House for another vote today. A House approval will see the bill go to President Donald Trump, who will sign it into a law.