Dec 20 2017

Rupee remains steady on Importers bids in thin trade

Financial Market Overview

20th December, 2017

Noon Update:-                                                                                  



  • 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.

Indian Equities:-

  • 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.

Global Markets:-

  • 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.