Dec 11 2017

Rupee turns higher as domestic equities rally offsets upbeat US jobs data impact

Financial Market Overview

11th December, 2017

Morning Coffee:-                                                                                  



  • Rupee edges higher after opening flat, as domestic equities extend recent rally. Pair USDINR now at 64.41 against 64.45 previous close.
  • Pair to tip in range between today 64.30-64.50.

Indian Equities:-

  • Equity benchmarks extended previous day’s rally on Monday morning as all sectoral indices traded in green. Positive global cues after strong US jobs report also supported the market.
  • The 30-share BSE Sensex was up 141.65 points at 33,391.95 and the 50-share NSE Nifty rose 43 points to 10,308.70.About five shares advanced for every share falling on the BSE.
  • SBI, Axis Bank, UltraTech Cement, Bharti Airtel, Maruti Suzuki, HDFC and Eicher Motors were early gainers while Infosys and HUL were losers.

Global Markets:-

  • Asian markets are higher today . The Hang Seng is up 0.04% . The Shanghai Composite rose by 0.40% and ASX200 is trading higher by 0.10%.
  • Wall Street and other major global stock markets posted solid gains on Friday. The Dow Jones Industrial Average rose 117.68 points, or 0.49 percent, to 24,329.16, the S&P 500 gained 14.52 points, or 0.55 percent, to 2,651.5 and the Nasdaq Composite added 27.24 points, or 0.4 percent, to 6,840.08.
  • European markets finished broadly higher on Friday with shares in London leading the region. The FTSE 100 is up 1.00% while Germany’s DAX is up 0.83% and France’s CAC 40 is up 0.28%.
  • The dollar index, which measures the greenback against a basket of six major rivals, ended 0.1% higher on Friday after data showed that the world’s largest economy created more jobs than expected last month.
  • Data from the labor department released on Dec. 8 showed the U.S. non-farm payrolls rose by 228,000 jobs in November, against economists’ expectation for 200,000 jobs increase in a poll. The October data was revised downwards to 244,000 jobs from 261,000 earlier.
  • The unemployment rate was unchanged at a 17-year low of 4.1%. Average hourly earnings rose five cents or 0.2% in November after dipping 0.1% in the month earlier, lifting the annual increase in wages to 2.5% from 2.3% in October..
  • Markets now await the U.S. central bank’s two-day monetary policy starting tomorrow, where the authority is widely expected to increase key interest rates for a third time this year.