Jan 03 2018

Rupee tad lower on banks Dollar bids

Financial Market Overview

03rd January, 2018

Noon Update:-                                                                                  



  • Indian rupee fell in afternoon trading, as a few foreign banks and a large state-run lender bought the greenback, outweighing gains triggered by exporters’ dollar sales.
  • The rupee was last seen at 63.50 to a dollar, against 63.48 at close yesterday. It hit an intraday low of 63.57. The currency had earlier risen to 63.45, hovering near a 29-month high of 63.43 hit yesterday. Most other Asian currencies were trading mixed.

Indian Equities:-

  • Indices have trimmed a huge chunk of their morning gains, with the Sensex trading just around 60 points higher, but the Nifty has continued to hold 10,450-mark.
  • The 30-share BSE Sensex was up 59.84 points at 33,872.10 and the 50-share NSE Nifty gains 25.15 points to 10,467.35 while the Nifty Midcap was down 1 percent.

Global Markets:-

  • European markets are mixed today. The DAX is up 0.41% while the CAC 40 gains 0.22%. The FTSE 100 is down 0.02%.
  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.62% and the Hang Seng rose 0.15%. The Nikkei 225 lost 0.08%.
  • The Dollar index was last trading up 0.1%, as investors awaited the minutes of the Fed’s December meeting, where policymakers had opted to hike interest rates by 25 basis points. The U.S. employment report for December is also expected on Jan. 5.
  • Germany’s unemployment rate held steady at a record low, bolstering optimism over the health of the euro zone’s largest economy, official data showed on Wednesday. In a report, Germany’s Federal Statistics Office said its jobless rate clocked in at a seasonally adjusted 5.5% in December. That beat expectations for it to hold steady at the initial reading of 5.6% in November. However, the prior month’s data was also revised lower to 5.5%.