Nov 24 2017

Rupee stays lower on sustained Dollar buys

Financial Market Overview

24th November, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee remained lower against the dollar in afternoon trade, as continued greenback purchases outweighed potential impact from strength in local shares that boosted expectations of foreign fund inflows.
  • The rupee was last seen at 64.6475 to a dollar, against 64.58 at close in the previous session. The local currency briefly rose to 64.55, highest since Nov. 3, but eroded gains on greenback purchases by state-run and private lenders and marked a day low of 64.7425,. Most Asian currencies were little changed against the dollar.

Indian Equities:-

  • The Sensex is trading over 100 points higher, while the Nifty was hovering around 10,400.
  • The market breadth was positive as 1485 shares advanced against a decline of 1033 shares, while 146 shares were unchanged.
  • The Sensex was up 110.50 points at 33698.58, while the Nifty was up 45.45 points at 10394.20. The market breadth is positive as 1502 shares advanced against a decline of 944 shares, while 150 shares were unchanged.

Global Markets:-

  • Asian markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.53% while Japan’s Nikkei 225 is up 0.12% and China’s Shanghai Composite is up 0.06%.
  • European markets are lower today with shares in London off the most. The FTSE 100 is down 0.18% while France’s CAC 40 is off 0.06% and Germany’s DAX is lower by 0.08%.
  • German business confidence unexpectedly improved in November, bolstering optimism over the motor of the euro zone economy, industry data showed on Friday.
  • In a report, the German research institute Ifo said its Business Climate Index rose to a seasonally adjusted 117.5 this month from a reading of 116.7 in October, beating forecasts for a drop to 116.6. However, the Current Assessment Index unexpectedly decreased to 124.4 in November from 124.8 a month earlier. The reading missed expectations for a rise to 125.0.