May 31 2018

Rupee turned lower on Oil related Dollar payments

Financial Market Overview

31st May, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee was lower at 67.51/67.52 per dollar, against its previous close of 67.4275/67.4375, weighed down by oil-related greenback purchases that outweighed early gains tracking global risk-on.
  • Investors now await India’s gross domestic product data for January-March due for release post market hours today.

Indian Equities:-

  • Benchmark indices extended gains in afternoon, backed by HDFC Group, oil stocks and Infosys. Positive global cues on easing of Italy political concerns also lifted market sentiment.
  • The 30-share BSE Sensex rallied 201.22 points to 35,107.33 and the 50-share NSE Nifty gained 59.95 points at 10,674.30 but the market breadth remained in favour of declines.

Global Markets:-

  • Asian markets are broadly higher today with shares in China leading the region. The Shanghai Composite is up 1.05% while Hong Kong’s Hang Seng is up 0.62% and Japan’s Nikkei 225 is up 0.40%.
  • European markets finished mixed as of the most recent closing prices. The CAC gained 0.36% and the FTSE 100 rose 0.15%. The DAX lost 0.15%.
  • The euro moved higher on Thursday, building on the previous days strong gains amid optimism that the political impasse gripping Italy can be resolved without fresh elections. EUR/USD rose  to 1.1720 , extending its recovery from Tuesday’s ten-month lows of 1.1509.