Rupee Stays Higher On Exporters’ Dollar Sales, Global Risk

Rupee Stays Higher On Exporters’ Dollar Sales, Global Risk

13 Sep 2019 01:45 PM

Financial Market Overview

13th September, 2019 

Afternoon Update

Indian Rupee

  • The Indian rupee was higher against the dollar in the afternoon session on some greenback sales by exporters and as risk appetite improved following the European Central Bank’s policy easing and progress in the Sino-U.S. trade talks.
  • The rupee was trading at 70.95 to a dollar against its previous close of 71.13. The local unit opened at 70.96 and rose to the day’s high of 70.86, the highest since Aug. 14.

Indian Equities

  • Indian equities were little changed in the afternoon session after edging higher on Friday gains in broader Asia on improving Sino-U.S. trade relations and a rate cut from the European Central Bank eased fears of a global economic slowdown, boosting investor confidence.
  • The broader NSE index was down 0.05% at 10,977.75, while the benchmark BSE index was 0.05% lower at 37,084.31.

Global Markets

  • Asian markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 1.05% while Hong Kong's Hang Seng is up 0.84% and China's Shanghai Composite is up 0.75%.
  • European markets are mixed today. The DAX is up 0.15% while the CAC 40 gains 0.14%. The FTSE 100 is off 0.01%.
  • The benchmark Brent crude oil contract was last trading 0.2% higher at $60.51 per barrel.
  • The off-shore Chinese yuan was last up 0.4% at 7.0367, its highest in over three weeks. Asian equities also gained, but volumes were lower than usual as financial markets in China, South Korea and Taiwan were closed.