Rupee Slips As Crude Oil Prices Rebound, Shares Fall

Rupee Slips As Crude Oil Prices Rebound, Shares Fall

13 Jun 2019 01:30 PM

Financial Market Overview

13th June, 2019

Afternoon Update

Indian Rupee

  • The Indian rupee traded lower against the dollar in afternoon trade, tracking a rebound in crude oil prices and as local shares dropped amid weak risk appetite in the broad market.
  • The rupee changed hands at 69.42 to the dollar against 69.34 at the previous close. The currency opened at 69.35 and briefly rose to day’s high of 69.32 before declining to day’s low of 69.4450.

Indian Equities

  • Indian shares fell for a second straight session on Thursday, dragged by financials, as rising inflation rate, prolonged trade war and street protests in Hong Kong hurt risk appetite.
  • The broader NSE index was down 0.57% at 11,837.85, while the benchmark BSE index was 0.55% lower at 39,537.84.

Global Markets

  • Asian shares were mixed to lower after massive street protests were reported in Hong Kong. The Hang Seng falls 0.38%. The Nikkei 225 lost 0.46% while the Shanghai Composite gained 0.05%.
  • European markets are mixed. The FTSE 100 is higher by 0.18% and the DAX is up 0.16%, while the CAC 40 is down 0.05%.
  • The benchmark Brent crude oil contract surged nearly 4%, rising to $62.64 per barrel today in Asia trading, reversing all of its yesterday’s losses, on the back of reports that alerted market over a shipping incident in Gulf of Oman. The contract was last trading 2.82% higher at $61.66 per barrel.
  • Traders now eye U.S. retail sales numbers due tomorrow and India’s trade balance print expected anytime from now until the end of the month for further cues.

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