Jul 25 2018

Rupee turned higher on banks dollar sales for exporters and custodian clients

Financial Market Overview

25th July, 2018

Noon Update:-                                                                                  

Markets at Noon:-

Rupee:-

  • The Indian rupee extended gains against the dollar in afternoon trade, as banks stepped up greenback sales for exporters and custodian clients amid a weak U.S. currency.
  • The rupee was last seen at 68.78 to a dollar against 68.94 at previous close. It had fallen to 68.98 before rising to the day’s high of 68.75, intraday. Other Asian peers were trading higher against the greenback.

Indian Equities:-

  • Buying interest on Indian equity markets has still resumed, with the Sensex rising about 100 points and the Nifty is approaching 11,150-mark. Among sectoral indices, metals continue to be the top gainers, while pharma, IT and infrastructure names continue to lag.
  • The Sensex gains 84.71 points or 0.23% at 36909.81 and the Nifty rose 11.75 points or 0.11% at 11146.05. About 1388 shares have advanced, 959 shares declined, and 149 shares are unchanged.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite closed  mildly lower by 0.04%  and the Hong Kong Hang Seng rose by 0.89%.
  • European markets are mixed today. The London’s FTSE100 off 0.27% ,Germany’s DAX is trading lower by 0.23% while the France’s CAC 40 gains by 0.18% .
  • The yuan was last trading up 0.2% at 6.7785 against the dollar, recovering from over a year-low hit yesterday.
  • The dollar index, measured against a basket of currencies, fell almost 0.1% overnight and was last trading 0.1% lower.
  • Markets await developments on a meeting between the U.S. President Donald Trump and European Commission Chief Jean-Claude Juncker later today amid an expanding U.S. protectionist agenda.