Rupee Rises With Gains in Local Equities And Exporters’ Dollar Sales

Rupee Rises With Gains in Local Equities And Exporters’ Dollar Sales

28 Dec 2018 02:03 PM
 

Financial Market Overview

28th December, 2018

Noon update

Indian Rupee:-

  • The Indian rupee extended gains against the dollar in afternoon trade, as greenback sales by exporters added to the early gains triggered by broad dollar weakness and higher regional shares.
  • The rupee changed hands at 69.95 to a dollar, against 70.35 at the previous close. The currency opened at 70.05, before extending gains to 69.9075.

 Indian Equities:-

  • Indian shares extended gains in thin trade on Friday and were headed for their third straight session of gains, boosted by financials such as HDFC Ltd and as an extended rally on Wall Street lifted investor sentiment.
  • The broader NSE index was up 1% at 10,887.10, and the benchmark BSE index was also 1% higher at 36,163.65.

 Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.44%, while the Nikkei 225 led the Hang Seng lower. They fell 0.31% and 0.02% respectively.
  • European markets are higher today. The DAX was up 0.57% while the FTSE 100 gained 0.80%. The CAC 40 was up 0.67% while IBEX35 gained 0.35%.
  • The dollar index was last trading 0.4% lower at 96.32, adding to overnight losses of 0.6%, as a drop in consumer confidence data underpinned concerns of a slowdown in the world’s largest economy. The index has remained under pressure this week amid a partial U.S. shutdown and increasing difference between the White House and the Federal Reserve.
  • Meanwhile, the benchmark Brent crude prices slipped more than 4% yesterday, after rising nearly 8% on Dec. 26, amid concerns over global economic growth and oversupply. The Brent contract was last trading higher 2.24% at $53.33 per barrel.
  • The Japanese yen gained 0.5% to trade at 110.35 against the greenback on renewed trade tensions that kept the safe-haven bets in the market intact.

 

 

 


Date : 28-Dec-2018

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