Rupee Stays Higher Amid Pause In Crude Oil Prices

Rupee Stays Higher Amid Pause In Crude Oil Prices

23 Jan 2019   1:52 PM
 

Financial Market Overview

23rd January, 2019

Noon update

Indian Rupee:-

  • The Indian rupee remained higher against the dollar in thin afternoon trade, tracking an overnight decline in crude oil prices. However, losses in local and regional shares on concerns over global growth and trade deal between the U.S. and China limited further gains.
  • The rupee changed hands at 71.20 to a dollar, against 71.4350 at previous close. The currency opened higher at 71.1725, moving in 12-paisa range so far.

 Indian Equities:-

  • Indian shares were little changed on Wednesday, mirroring broader Asian markets where investors stayed away from risky assets amid signs of slowing global growth and an unsettled Sino-U.S. trade dispute, with losses in IT and financial stocks countering gains in consumer stocks.
  • The broader NSE index was down 0.01% at 10,921.35, while the benchmark BSE index was down 0.02% to 36,437.85.

 Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.05%, while the Nikkei 225 led the Hang Seng lower. They fell 0.14% and 0.06% respectively.
  • European markets are also lower today. The CAC 40 is down 0.45% while London's FTSE 100 is down 0.58% and Germany's DAX is down 0.52%.
  • The benchmark Brent crude oil contract slipped nearly 2% and briefly fell below the $61-per-barrel mark in overnight trade, on escalating geopolitical risks from U.S.-China trade tensions and concerns surrounding slowdown in global economic growth. It was last trading 0.29% higher at $61.68 per barrel.
  • The dollar index was last trading little changed as safe-haven bets increased demand for the Japanese yen. Bank of Japan, meanwhile, kept its policy rates unchanged as was widely expected. The ongoing partial U.S. shutdown weighed on the dollar.
  • The euro and the pound sterling were trading 0.1% higher in anticipation that Britain will be able to avoid a messy exit from the European Union bloc.
  • Traders will now focus on European Central Bank’s monetary policy tomorrow, while outcome of the Federal Open Market Committee’s meeting is due on Jan. 30.

 

 

 

 

 


Date : 23-Jan-2019