Rupee trading higher tracking weak Dollar

Rupee trading higher tracking weak Dollar

24 Jan 2018 09:47 AM
Myforexeye Research Report

Financial Market Overview

24th January, 2018

Morning Coffee:-                                                                                  



  • Indian rupee is trading higher against the dollar in early session, on weak greenback demand amid renewed speculation that the European Central Bank may consider tightening at its policy meeting that ends tomorrow. Pair USDINR now at 63.66 against 63.77 previous close.
  • Pair to tip in range between 63.60-63.85 today.

Indian Equities:-

  • The benchmark indices opened lower amid mixed global cues with Sensex holding above 36, 000 mark. The Sensex was down 16.71 points at 36123.27, and the Nifty down 16.90 points at 11066.80.About 437 shares have advanced, 668 shares declined, and 163 shares are unchanged.
  • ITC, HDFC, Wipro, Maruti Suzuki, ONGC, GAIL, Indiabulls Hsg and Dr Reddy’s Labs are the top gainers on the indices, while top loser includes Bharti Airtel, ICICI Bank, Tata Motors, Reliance Industries, Tata Steel, Vedanta, Hindalco and Eicher Motors.

Global Markets:-

  • Asian markets are mixed today. Shares in Hong Kong are trading lower ,the Hang Seng fell by 0.28% while the Australian ASX 200 is up 0.36% and the Shanghai Composite in China is higher by 0.14%.
  • European markets finished mixed as of the most recent closing prices. The DAX gained 0.71% and the FTSE 100 rose 0.21%. The CAC 40 lost 0.12%.
  • S. stocks advanced on Tuesday, as strong results from Netflix helped lift the S&P and Nasdaq Composite, but the Dow Industrials were hemmed in by declines in Johnson & Johnson and Procter & Gamble. The Dow Jones Industrial Average fell 4.27 points, or 0.02 percent, to 26,210.33, the S&P 500 gained 6.22 points, or 0.22 percent, to 2,839.19 and the Nasdaq Composite added 52.26 points, or 0.71 percent, to 7,460.29.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended 0.3% lower overnight while the euro rose 0.3% against the greenback.
  • Flash estimate data from the European Commission yesterday showed January Euro zone consumer confidence rose to 1.3 points from 0.5 points in December, beating market expectations of an increase to 0.6 points. This is the highest level of the indicator since August 2000.
  • The data strengthened bets that the European Central Bank would soon begin trimming its massive monetary policy stimulus. The ECB policy meet ends tomorrow.

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