Rupee reversed its early losses on Dollar sales by private banks

Rupee reversed its early losses on Dollar sales by private banks

27 Apr 2018 10:00 AM
Myforexeye Research Report

Financial Market Overview

27th April, 2018

Morning Coffee:-                                                                                  



  • Rupee reversed its early losses on Dollar sales by private banks, probably for exporters, offsets continued dollar strength. Pair USDINR now at 66.71, off 66.84 early high, and 66.75 previous close.
  • Pair to tip in range between 66.65-66.90.

Indian Equities:-

  • Equities have begun the day on a good note, with the Sensex rising over 100 points, while the Nifty managed to open above 10,650-mark.
  • The Sensex is up 143.63 points at 34857.23, while the Nifty is up 56.20 points at 10674.00. The market breadth is positive as 333 shares advanced, against a decline of 171 shares declined, while 54 shares were unchanged.

Global Markets:-

  • Asian markets are mixed today. The Shanghai Composite is off 0.74% while the Australian ASX200 gains 0.62% and the Hong Kong's Hang Seng is trading higher by 0.07%.
  • European markets finished higher today with shares in France leading the region. The CAC 40 is up 0.74% while Germany's DAX is up 0.63% and London's FTSE 100 is up 0.57%.
  • US. stocks were higher after the close on Thursday, as gains in the Technology, Oil & Gas and Consumer Services sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average added 0.99%, while the S&P 500 index gained 1.04%, and the NASDAQ Composite index added 1.64%.
  • ECB maintained status quo on rates and did not make any changes to its bond buying program. ECB President Mario Draghi, while acknowledging the loss of economic momentum in the March quarter, pointed to “underlying strength” in the euro-zone economy.
  • In economic data released yesterday, the U.S. Labor Department said the number of first-time applications for unemployment benefits fell to the lowest in more than 48 years last week. Separately, the Commerce Department said the advance goods trade deficit contracted sharply to $68.04 billion last month from $75.88 billion, reducing the drag on first-quarter economic growth. A third report showed that new orders for key U.S.-made capital goods fell in March, weighed down by the decline in demand for machinery.

Date : Apr-2018

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