Dec 04 2017

Rupee reverses losses on Dollar inflows

Financial Market Overview

04th December, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee edged higher against the dollar in afternoon trading, as gains in local shares and foreign banks’ greenback sales, likely for a corporate bond issue, outweighed losses triggered by a strong dollar index.
  • The rupee was last seen at 64.3050 to a dollar, against 64.46 at close on Nov. 30. The local currency had opened lower at 64.55 to a dollar, but reversed losses to rise to a day’s high of 64.2950. Indian currency and bond markets were shut on Dec. 1 for a local holiday. Most other Asian currencies were trading flat to lower against the dollar.

Indian Equities:-

  • Benchmark indices came off day’s high in afternoon, with the Sensex rising 46.38 points to 32,879.32 and the Nifty trading 10.20 points higher at 10,132.00.
  • The market breadth was negative as about 1,455 shares declined against 1,075 advancing shares on the BSE.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.22%, while the Nikkei 225 led the Shanghai Composite lower. They fell 0.49% and 0.24% respectively.
  • European markets are higher today. The DAX is up 1.16% while the FTSE 100 gains 0.66% and the CAC 40 rose 0.70%.
  • Pound Sterling was last trading down 0.24% against the greenback ahead of a scheduled meeting between British Prime Minister Theresa May, European Union Chief Executive Jean-Claude Juncker and his chief Brexit negotiator Michel Barnier later today.  The meeting, if it leads to progress on three key EU conditions — a financial settlement, rights of expatriate citizens and the Irish border – could lead to trade talks among the leaders at a summit on Dec. 14-15.