Nov 24 2017

Rupee turns lower on likely Dollars short covering

Financial Market Overview

24th November, 2017

Morning Coffee:-                                                                                  

MARKETS AT OPEN:-

Rupee:-

  • Rupee turns lower after opening flat at 64.58, on likely short-covering in dollar; pair now at 64.71 against 64.58 previous close.
  • Pair to tip in range between today 64.50-64.80.

Indian Equities:-

  • Frontline indices began on a positive note, with the Nifty opening above 10,350-mark. Midcap index was trading at a record high, but at par with the benchmarks.
  • The Sensex was up 70.74 points at 33658.82, while the Nifty is up 23.00 points at 10371.80. The market breadth was positive as 641 shares advanced, against a decline of 227 shares, while 33 shares were unchanged.
  • Bajaj Auto, Cipla and Bharti Infratel gained the most on both indices, while HUL, Asian Paints, Zee Entertainment and HPCL were the top losers.

Global Markets:-

  • Asian markets are mixed today. The Hang Seng is up 0.31%, Australian ASX200 is down 0.23% and Shanghai Composite fell 0.56%.
  • S. stocks were closed yesterday on account of Thanksgiving Day.
  • European markets finished mixed as of the most recent closing prices on Thursday. The CAC 40 gained 0.50%, while the DAX led the FTSE 100 lower. They fell 0.05% and 0.02% respectively.
  • The dollar index, which measures the greenback against a basket of six major rivals, was trading down 0.08%. U.S. markets were shut yesterday for Thanksgiving holiday.
  • The index fell to one-month low on Nov. 22, after minutes of the Fed’s Oct. 31 – Nov. 1 meeting showed many policymakers were cautious about the slowing inflation in the U.S., reducing bets of aggressive policy tightening by the monetary authority next year. The authority had kept interest rates unchanged in that policy.