Rupee Up On Banks’ Dollar Sales In Thin Trade; RBI Meet Eyed

Rupee Up On Banks’ Dollar Sales In Thin Trade; RBI Meet Eyed

19 Nov 2018 02:05 PM
Myforexeye Research Report

Financial Market Overview

19th November, 2018

Noon update

Indian Rupee:-

  • The Indian rupee edged higher against the dollar in thin afternoon trade, on greenback sales by a foreign lender along with a large state-run bank, even as investors remained cautious ahead of outcome of the central bank’s crucial board meeting today.
  • The rupee changed hands at 71.74 to a dollar, against 71.92 at close on Nov. 16. It opened flat and remained in a 28-paisa band.

Indian Equities:-

  • Indian shares pared most of their early gains to trade marginally higher on Monday, as investors await the central bank’s board meet to discuss several issues related to liquidity, lending rules for banks and handing over surplus reserves to the government.
  • The broader NSE index was up 0.22% at 10,706.00 and the benchmark BSE index was 0.34% higher at 35,576.53.

Global Markets:-

  • Most Asian shares are trading in green. The Hang Seng gains 0.72% and the Shanghai Composite is up 0.91%.
  • European shares are trading higher today. The London's FTSE 100 gained 0.06%, France's CAC gained 0.54% while Germany's DAX was 0.59% higher and Spain's IBEX35 was 0.69% higher.
  • The benchmark Brent crude oil price, which marked its sixth weekly fall last week amid higher supply and concerns over setback in demand, was last trading 0.69% higher at $67.22 per barrel, also denting some sentiments for the rupee.
  • The dollar index was trading steady at 96.45, after dropping 0.5% in the previous session to over one-week low.
  • The euro managed to hold steady in early Asian trade, changing hands at $1.1415, having advanced over the last four trading sessions despite poor economic fundamentals.
  • The British pound wobbled at $1.2863, having come under heavy selling last week amid turmoil over British Prime Minister Theresa May's draft Brexit plan. The currency is expected to remain under pressure until the market gets more clarity on the progress of the Brexit deal.





Date : 19-Nov-2018