May 16 2018

Rupee stays higher on Dollar sales by state-run banks

Financial Market Overview

16th May, 2018

Noon Update:-                                                                                  



  • The Indian rupee was trading higher against the dollar in afternoon trade, after greenback sales by state-run banks, apparently on behalf of the central bank.
  • The Indian rupee was last seen at 67.83/67.84 per dollar, against its previous close of 68.07/68.08, as persistent greenback sales by state-run and foreign banks kept the local unit off its near 16-month low hit earlier today.

Indian Equities:-

  • Indian shares fell on Wednesday as doubts over the composition of the next government in the southern state of Karnataka dampened investor risk appetite.
  • The broader NSE index was down 0.21 percent at 10,779.30 , while the benchmark BSE index was 0.16 percent lower at 35,487.53.

Global Markets:-

  • Asian markets finished lower today with shares in China leading the region. The Shanghai Composite is down 0.71% while Japan’s Nikkei 225 is off 0.44% and Hong Kong’s Hang Seng is lower by 0.13%.
  • European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.23% while Germany’s DAX is up 0.22% and France’s CAC 40 is up 0.19%.
  • The dollar index edged 0.1% higher today, adding to yesterday rise of 0.7%, underpinned by rise in U.S. Treasury yields after rise in retail sales data of the world’s largest economy.