Rupee Stays Higher On Bunched-Up Dollar Inflows

Rupee Stays Higher On Bunched-Up Dollar Inflows

18 Apr 2019 02:06 PM

Financial Market Overview

 18thApril, 2019

Afternoon Update

 Indian Rupee

  •  The Indian rupee remained higher against the dollar in thin afternoon trade, as private banks sold the greenback, leading to bunched-up inflows in a holiday-truncated week.
  • The rupee was trading at 69.50 to a dollar against at 69.60 at previous close on Apr. 16. The currency opened at 69.46 and has traded in a range of 69.37 to 69.54 so far.

Indian Equities

  • The broader NSE index was down 0.23 percent at 11,759.65 while the benchmark BSE index was 0.27 percent lower at 39,169.46.
  • The indexes were on track to snap four straight sessions of gains, but may end the truncated week around 1 percent higher.

Global Markets

  • Shares in Hong Kong are lower today as the Hang Seng falls 0.71%. The stock markets in Tokyo and Shanghai are closed at this time.
  • European markets are lower today with shares in France off the most. The CAC 40 is down 0.60% while Germany's DAX is off 0.43% and London's FTSE 100 is lower by 0.36%.
  • The Benchmark Brent crude oil prices eased slightly after rising over $72 per barrel yesterday for the first time in 2019. The contract was last trading 0.53% lower at $71.26 per barrel.
  • The dollar index was trading little changed. Recent data showed U.S. trade deficit fell to an eight-month low in February as exports to China surged, helping to eclipse a rebound in overall imports.
  • The euro is trading sideways against the dollar early Thursday in Europe, awaiting what are likely to be market-moving business surveys from around the region.
  • Japanese manufacturers' business confidence slipped to a 2-1/2-year low in April, underlining growing concerns the economy could slip into a recession in the face of slowing external demand.