Rupee stays higher on exporters' dollar sales, lower oil prices

Rupee stays higher on exporters' dollar sales, lower oil prices

09 Nov 2018 02:05 PM
Myforexeye Research Report

Financial Market Overview

09th November, 2018

Noon Update

Indian Rupee:-

  • The Indian rupee remained higher against the dollar in afternoon trade, helped by greenback sales from exporters and an overnight plunge in crude oil prices.
  • The rupee changed hands at 72.71 to a dollar, against 72.9950 at close on Nov. 6. It opened at 72.70 and has so far traded in a 16-paisa band.

Indian Equities:-

  • Indian shares fell again in the afternoon session after recovering from early losses, with losses in large-cap IT stocks eclipsing gains in the financial and consumer sectors.
  • The broader NSE index was down 0.14% at 10,583.85 and the benchmark BSE index was 0.19% lower at 35,172.08.

Global Markets:-

  • Asian shares are lower today. The Hang Seng lost 2.41% while the Shanghai Composite was 1.39% down.
  • European markets finished lower as of the most recent closing prices. The FTSE 100 lost 0.63%, CAC lost 0.73% and the DAX lost 0.51% .
  • The benchmark Brent crude oil contract was trading at $70.47 per barrel after falling about 2% to settle at $70.65 per barrel yesterday, its lowest level in seven months. The contract has fallen more than 18% since hitting a multi-year record high of $86.74 on Oct. 3.
  • The dollar index jumped by the most in three months yesterday, and the U.S. 10-year yield settled at 3.23%, its highest since May 2011, following the Fed outcome.
  • The euro fell 0.2% extending overnight decline of 0.5% as the European Commission forecast a slower growth in Eurozone in the next two years weighed by ongoing uncertainty over the Brexit deal, Italy’s budget and amid risks from U.S. economic policies.
  • Meanwhile, the yen traded 0.2% higher but hovered near a five week-low hit overnight, as U.S. remained on its path of hiking rates while interest rates in Japan stayed low.



Date : 9-Nov-2018