Rupee Stays Up Tracking Gains in Asian Currencies and Lower Crude

Rupee Stays Up Tracking Gains in Asian Currencies and Lower Crude

24 Jan 2019 01:58 PM

Financial Market Overview

24th January, 2019

Noon update

Indian Rupee:-

  • The Indian rupee remained higher against the dollar in thin afternoon trade, tracking gains in most Asian currencies and as crude oil prices were headed for a third consecutive session of decline.
  • The rupee changed hands at 71.26 to a dollar, against 71.3350 at previous close. The currency opened higher at 71.27 and has moved in 20-paisa range so far.

 Indian Equities:-

  • Indian shares were largely unchanged in lacklustre trading amid lingering concerns about global growth and ahead of key political events.
  • The broader NSE index was down 0.10% at 10,820.55, while the benchmark BSE index was down 0.04% to 36,093.46.

 Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.41% and the Hang Seng rose 0.28%. The Nikkei 225 lost 0.09%.
  • European markets are also mixed today. The CAC 40 is down 0.02%, London's FTSE 100 is down 0.08% and Germany's DAX is down 0.20% while Spain's IBEX35 is up 0.27%.
  • The benchmark Brent crude oil contract was trading 0.39% lower at $60.90 per barrel, heading for its third session of losses on concerns over global growth and unexpected increase in U.S. inventories.
  • The dollar index declined 0.2% in the previous session and was last trading 0.1% higher at 96.24. The index’s fall overnight was primarily on account of the pound, which strengthened past 1.30 against the dollar yesterday to its highest in almost three months. Also weighing on the index was the partial U.S. federal shutdown, which is now for over a month. Risk appetite has remained subdued in recent sessions amid uncertainties over global economic outlook and U.S.-China trade relations.
  • Investors now await the monetary policy meeting outcome of the European Central Bank, due later today, followed by Federal Reserve’s monetary policy outcome on Jan. 30.






Date : 24-Jan-2019

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