Feb 23 2018

Rupee stays higher tracking gains in local equities

Financial Market Overview

23rd February, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian Rupee remained higher against the dollar in afternoon trade, as gains in local and regional shares boosted investor appetite for emerging market assets.
  • Rupee was last seen at 64.7850 to a dollar, against 65.04 at the previous close. Most Asian currencies also rose against the dollar.

Indian Equities:-

  • Indian shares rose on Friday, tracking broader Asia after comments from a Federal Reserve official eased worries about faster rate hikes in the United States and sparked a rebound in recently hit sectors such as drug makers.
  • The Sensex is up 307.72 points or 0.91% at 34,127.22, and the Nifty gains 103.45 points or 0.91% at 10486.15.

Global Markets:-

  • European markets are mixed today. The FTSE 100 is up 0.15%, Germany’s DAX gains 0.11% and France’s CAC 40 is lower by 0.10%.
  • Asian markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.97% while Japan’s Nikkei 225 is up 0.72% and China’s Shanghai Composite is up 0.63%.
  • The dollar index, which measures the greenback against a basket of six major rivals, rose to an over one-week high intraday before dropping sharply to end off 0.3% overnight, tracking a rally in the Japanese yen, which ended up 0.95% against the greenback yesterday. The index was last trading up 0.3%.
  • The U.S. 10-year yield ended at 2.917% yesterday, lower than 2.941% at previous close, but was still hovering near the highest levels since 2014.
  • Foreign trade drove a 0.6 percent expansion in Europe’s largest economy between October and December, German data showed on Friday.