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

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

13 Apr 2018 10:07 AM
 
Myforexeye Research Report

Financial Market Overview

13th April, 2018

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • 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%.
  • S. 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%.

Date : Apr-2018