Jan 10 2018

Rupee slips on higher Oil prices and Dollar bids

Financial Market Overview

10th January, 2018

Noon Update:-                                                                                  



  • The Indian rupee headed for a third straight session of losses, as oil importers stepped up dollar purchases amid an ongoing rally in crude oil prices.
  • The rupee was last seen at 63.75 to a dollar at , against 63.71 at the previous close. The currency has moved in a 63.6450-63.84 to a dollar band so far today. Most other Asian currencies were trading flat to lower against the greenback.

Indian Equities:-

  • Benchmark indices continued to trade mildly lower in afternoon, with the Sensex falling 5.22 points to 34,437.83, dragged by banking & financials, infra and metals stocks.
  • The 50-share NSE Nifty was down 9.40 points at 10,627.60. About three shares declined for every two shares rising on the BSE.
  • Tinplate, Welspun India, Aban Offshore, Ujjivan Financial, SpiceJet, Jet Airways and Coal India were most active shares.

Global Markets:-

  • European markets are mixed. The FTSE 100 is higher by 0.02%, while the DAX is leading the CAC 40 lower. They are down 0.25% and 0.17% respectively.
  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.23% and the Hang Seng rose 0.20%. The Nikkei 225 lost 0.26%.
  • The benchmark Brent crude oil jumped to $69.29 per barrel yesterday, its fresh over two-year high, before settling at $68.82, amid ongoing production cuts and pick-up in demand. It was last trading up 0.5% at $69.14 per barrel. India imports 80% of its oil requirements.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended up 0.18% in overnight trade, tracking higher U.S. Treasury yields after the Bank of Japan yesterday said it will trim its purchases of Japanese government bonds, raising speculation that the authority may wind down its monetary stimulus earlier than expected. The index was last trading down 0.10%. The Japanese yen was up 0.7% against the greenback, adding to a 0.4% rise in yesterday’s trade.