Apr 13 2018

Rupee steady as gains in local equities and upbeat local data offset Dollar recovery

Financial Market Overview

13th April, 2018

Morning Coffee:-                                                                                  



  • Rupee steady as rise in stocks and upbeat local data neutralise broad dollar gains; pair USDINR now at 65.25, off opening high of 65.30 and against 65.26 previous close.
  • India’s retail inflation rate stood at 4.28% in March from a year earlier, easing for the third straight month and the slowest pace of expansion since October, as prices of food and fuel rose at a slower pace, government data released after market yesterday showed.  Separately, data released yesterday showed India’s industrial output rose 7.1% in February from a year earlier against January’s 7.4% expansion.
  • Pair to tip in range between 65.15-65.45.

Indian Equities:-

  • Benchmark indices extended previous day’s gains, following positive lead from Wall Street and macro data, as investors await Infosys Q4 earnings due later in the day.
  • The 30-share BSE Sensex rose 107.15 points to 34,208.28 and the 50-share NSE Nifty gained 27.70 points at 10,486.40.

Global Markets:-

  • Asian markets are mixed today. The Shanghai Composite is down 0.39%  the Hong Kong’s Hang Seng lost 0.15% and the Australian ASX200 is trading higher by 0.41%.
  • European markets finished higher today with shares in Germany leading the region. The DAX is up 0.98% while France’s CAC 40 is up 0.59% and London’s FTSE 100 is up 0.02%.
  • US. stocks climbed on Thursday as investors anticipated a strong earnings season and as U.S. President Donald Trump’s suggestion that a military strike on Syria may not be imminent eased geopolitical worries. The Dow Jones Industrial Average rose 293.29 points, or 1.21 percent, to 24,482.74, the S&P 500 gained 21.82 points, or 0.83 percent, to 2,664.01 and the Nasdaq Composite added 71.22 points, or 1.01 percent, to 7,140.25.
  • The dollar index edged higher in early Asian trading after closing up 0.2% yesterday, its first gain in five sessions. The 10-year treasury yield rose to 2.83%, marking its highest close in more than a week.
  • The benchmark Brent crude oil came off its $73 per barrel mark from earlier this week and ended little changed yesterday, marking an end to a rally that began at the start of this week after U.S. crude oil inventories data showed a rise. However, the contract was still poised to end the week on a positive note, last trading up 7%.