Jan 10 2018

Rupee trading marginally higher as custodial inflows offset rising US yields and Oil prices

Financial Market Overview

10th January, 2018

Morning Coffee:-                                                                                  



  • Rupee trading marginally higher as sales by foreign banks overshadow jump in US yields and Brent crude prices. Pair USDINR now at 63.65 against 63.71 previous close.
  • Pair to tip in range between 63.55-63.80 today.

Indian Equities:-

  • Benchmark indices opened flat on Wednesday, continuing previous day’s consolidation further as investors await December quarter earnings.
  • The 30-share BSE Sensex was up 36.20 points at 34,479.39 and the 50-share NSE Nifty gained 2.40 points at 10,639.40.
  • Bharti Airtel, ONGC, Coal India, ITC, Infosys, Sun Pharma, Reliance Industries, Vedanta, Tech Mahindra and HCL Technologies were early gainers. HPCL, BPCL, Eicher Motors, Asian Paints, Kotak Mahindra Bank, Axis Bank and IndusInd Bank were early losers.

Global Markets:-

  • Asian markets are mixed today . The ASX200 is down 0.46% . The Hang Seng rose 0.77% and Shanghai Composite is trading higher  by 0.35%.
  • Wall Street’s major indexes extended the New Year rally to close at record levels on Tuesday on investor optimism ahead of quarterly earnings reports and hopes for easing tensions with North Korea. The Dow Jones Industrial Average rose 102.8 points, or 0.41 percent, to 25,385.8, the S&P 500 gained 3.58 points, or 0.13 percent, to 2,751.29 and the Nasdaq Composite added 6.19 points, or 0.09 percent, to 7,163.58.
  • European markets finished higher yesterday with shares in France leading the region. The CAC 40 is up 0.67% while London’s FTSE 100 is up 0.45% and Germany’s DAX is up 0.13%.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended up 0.18% in overnight trade, tracking higher U.S. Treasury yields after the Bank of Japan yesterday said it will trim its purchases of Japanese government bonds, raising speculation that the authority may wind down its monetary stimulus earlier than expected. The U.S. 10-year note ended at 2.5460% yesterday against 2.4820% at previous close.
  • The benchmark Brent crude oil rose to highest since December 2014, rising as much as to $69.29 per barrel yesterday, before closing at $68.82, amid ongoing production cuts and pick-up in demand. India imports 80% of its oil requirements.