Nov 14 2017

Rupee turned down on Importers Dollar bids

Financial Market Overview

14th November, 2017

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee turned lower against the dollar in afternoon trade and was heading for a third consecutive day of losses, weighed down by greenback demand from importers.
  • The rupee was last trading at 65.49 to a dollar, against 65.42 at close in the previous session. The local currency gave up early gains and fell to an intraday low of 65.5325 to a dollar. However, greenback sales by at least one large state-run bank, likely for the Reserve Bank of India, limited further losses in the rupee.
  • Data released earlier today showed India’s wholesale price inflation rose 3.59% in October on-year, recording the fastest pace of gain since April, driven by costlier food items, including a sharp surge in onion prices.

Indian Equities:-

  • Benchmark indices were off day’s low, led by recovery in banks.
  • The 30-share BSE Sensex was down 31.65 points at 33,001.91 and the 50-share NSE Nifty declined 16.90 points to 10,205.05. About 1,423 shares declined against 1,157 advancing shares on the BSE.

Global Markets:-

  • Asian markets finished mixed to lower as of the most recent closing prices. Shares in China fell as the Shanghai Composite dropped 0.53%. The Hang Seng lost 0.10% while the Nikkei 225 in Japan closed unchanged.
  • European markets are higher today with shares in France leading the region. The CAC 40 is up 0.22% while Germany’s DAX is up 0.17% and London’s FTSE 100 is up 0.19%.