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| As on Oct 18, 2021 12:00 AM |
Your results on : End Session |
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The Indian rupee snapped gains against the dollar to end lower by 9 paise at 75.35 (provisional) on Monday, tracking stronger greenback against key rivals overseas and rising global crude oil prices. At the interbank forex market, the local unit opened on a steady note and later traded in a narrow range of 75.24 to 75.38 against the American currency. On Thursday, the rupee had settled at 75.26 against the US dollar. The forex market was closed on Friday for Dussehra' holiday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, at the time of writing was quoting at 94.08. The benchmark 10-year bond yield ended at 6.38%, up 5 basis points from its previous close and at its highest since April 17, 2020. India's benchmark 10 year bond yield rallied to its highest level in one and half years amid a surge in global crude oil prices. Brent crude futures, the global oil benchmark, rose 1.11 per cent to USD 85.80 per barrel. On the domestic equity market front, the BSE Sensex surged 459.59 points or 0.75 per cent to end at 61,765.59; while the broader NSE Nifty jumped 138.50 points or 0.76 per cent to settle at 18,477.05. Powered by Commodity Insights |
| COMEX Gold futures held near three-week high near $1800 per ounce in last session on sustained buying support and a slide in the US dollar index. The dollar index, which measures the greenback against six rivals, currently quotes down 0.25% at 93.84- its lowest mark in a week and half. Gold is also witnessing a rally on hopes of a rebound in India's retail buying as festive season enters into peak in coming weeks. MCX Gold has broken above Rs 48000 per 10 grams and currently trade at Rs 48025 per 10 grams, up 0.23% on the day. Powered by Commodity Insights |
The Indian rupee appreciated for the second day in a row on Thursday, amid fresh foreign capital inflows and heavy buying in domestic equities. Besides, dollar weakness overseas on expectations that the U.S. Federal Reserve would tighten monetary policy more quickly than previously expected supported the domestic currency. However, surging crude prices in the international market restricted the rupee's gain. Rupee gained 11 paise to close at 75.26 (provisional) against the US dollar on Thursday. At the interbank forex market, the local unit opened strong at 75.27 against the greenback, and moved in a range of 75.20 to 75.37 in the day trade. It finally ended at 75.26 against the American currency, registering a rise of 11 paise over its previous close. On Wednesday, the rupee had settled at 75.37 against the US dollar. Yields on the 10 year benchmark 6.10 GS 2031 ended at 6.328%. Powered by Commodity Insights |
The Indian rupee managed to recover against the dollar on Wednesday, ending a three -day losing streak amid easing crude oil prices, weakness in dollar and improved domestic macro data. At the interbank foreign exchange, the rupee opened stronger at 75.29 against the dollar and registered an intraday high and low of 75.20 and 75.51 respectively so far during the day and settled for the at 75.38 provisionally. Meanwhile, the dollar is seen easing from its recent peaks but manages to hold close to a one-year high against a basket of peer currencies amid rising expectations the Federal Reserve will announce a tapering of stimulus next month, potentially following with interest rate hikes by mid-2022. The dollar index, which measures the greenback against six rivals, eased slightly to 94.271 from Tuesday, when it touched 94.563 for the first time since late September 2020. Powered by Commodity Insights |
Strength in the greenback overseas coupled with firm crude oil prices weighed down the Indian rupee for the third day in a row on Tuesday. Rupee weakened further by 16 paise to end at 75.52 against the US currency. At the interbank foreign exchange market, the local currency opened at 75.41 and witnessed an intra-day high of 75.16 and a low of 75.66 against the US dollar in the day trade. The local unit finally settled at 75.52 a dollar, down 16 paise over its previous close. On Monday, the rupee slid by 37 paise to close at a 15-month low of 75.36 against the US dollar. The 10-year benchmark 6.10%-2031 bond yield closed at 6.33% as compared to yesterday's close at 6.34%. Powered by Commodity Insights |
| Copper saw a choppy action today with losses in Asian trades being followed by good buying. The counter was down around 1% but currently trade flat at $4.36 per pound. MCX Copper futures opened sharply lower but edged up from lows around Rs 730 per kg. The counter currently trades at Rs 737.50 per kg, down 0.44% on the day. COMEX Copper jumped in last session, hitting near three week high of before weak US equities pulled it lower. The number of newly reported cases of the coronavirus disease (Covid-19) worldwide continue to drop, indicating a steady downward trend, the World Health Organisation (WHO) stated in a latest update last week. Powered by Commodity Insights |
| COMEX Copper jumped above $4.30 per ounce, hitting near three week high of $4.35 per pound amid mixed equities. The number of newly reported cases of the coronavirus disease (Covid-19) worldwide continue to drop, indicating a steady downward trend, the World Health Organisation (WHO) stated in a latest update last week. MCX Copper futures hit Rs 740 per kg on firm global cues, adding 1.60% on the day. Asian stocks closed on a mixed note on Monday as investors monitored inflation expectations. China's Shanghai Composite Index closed on a flat note while the Hang Seng Index of the Hong Kong jumped 1.68%. Japanese benchmark Nikkei 225 index added 1.58%. European stocks saw some losses with German index DAX down 0.50% while French CAC eased 0.37%. US stock indexes ended lower Friday with technology stocks under pressure as bond yields rose after a monthly report on the labor market came in much weaker than expected. Powered by Commodity Insights |
Surging crude oil prices and dollar lingering at near one-year high levels weighed down the Indian rupee that tumbled sharply to settle below the 75 per dollar mark. Rupee plunged by almost 40 paise during the day and closed at a 15-month low of 75.36 against the U.S. dollar on Monday. At the interbank foreign exchange market, the local currency opened lower at 75.11 and witnessed an intra-day high of 75.06 and a low of 75.39 against the U.S. dollar in day trade. The local unit finally settled down by 37 paise at 75.36 a dollar, a level not seen since July 14, 2020. The dollar index that tracks the greenback against a basket of advanced economy currencies was effectively flat at 94.18, having failed to push beyond its September high in response to the jobs report on Friday. BSE Sensex gained 77 points or 0.13 per cent to end at 60,136, while NSE Nifty 50 ended above 17900 for the first time at 17946, up 50 points or 0.3 per cent. The 10-year benchmark 6.10%-2031 bond yield closed at at 6.34%. On Friday, the yield on the 10-year government security benchmark 6.10% ended at 6.31% - a level last seen on 17 April 2020. Powered by Commodity Insights |
| Gold saw choppy moves though overall sentiment was supported amid falling Covid-19 cases in India. The festive season also kicked off and overall undertone on the economic front remained optimistic. The yellow metal consolidated around $1760 per ounce mark on these cues despite soaring US treasury yields. World Gold Council (WGC) stated in a latest update that Gold fell 4% in September, driven lower by higher US yields as well as small negative contributions from futures positioning and US dollar strength. But gold wasn't the only asset class to fall, treasuries, corporates, US- and non-US equities all fell in September, possibly because of deleveraging. Gold's short-term performance will likely remain choppy as markets continue to assess how upcoming economic data might impact central bank policy decisions. Powered by Commodity Insights |
| Crude oil edged up amid a modest retreat as good bargain buying and strong demand outlook owing to sustained drop in Covid-19 cases boosted the commodity. WTI Crude edged up near a seven year high, approaching $80 per barrel mark. MCX Crude also hit the watershed Rs 6000 per barrel mark. The Energy Information Administration (EIA) noted in its latest International Energy Outlook 2021 that India's liquid fuels consumption by 2050 will be three times higher than 2020 levels while crude oil production will be lower in 2050 than in 2020. In a critical update for crude, OPEC and allied oil producing countries have stayed with their decision to restore oil production slashed during the pandemic, agreeing to add 400,000 barrels per day in November. In view of current oil market fundamentals and the consensus on its outlook, OPEC and participating non-OPEC oil producing countries reaffirmed the decision of the 10th OPEC and non-OPEC Ministerial Meeting on 12 April 2020 and further endorsed in subsequent meetings including the 19th OPEC and non-OPEC Ministerial Meeting on the 18 July 2021. The producers reconfirmed the production adjustment plan and the monthly production adjustment mechanism approved at the 19th OPEC and non-OPEC Ministerial Meeting and the decision to adjust upward the monthly overall production by 0.4 mb/d for the month of November 2021. Powered by Commodity Insights |
| COMEX Copper futures soared to one week high of $4.30 per pound amid steady recovery in world economic and supportive equities. The WTO stated in a latest update that it is predicting global merchandise trade volume growth of 10.8% in 2021, up from 8.0% forecasted in March, followed by a 4.7% rise in 2022. Growth should moderate as merchandise trade approaches its pre-pandemic long-run trend. Supply-side issues such as semiconductor scarcity and port backlogs may strain supply chains and weigh on trade in particular areas, but they are unlikely to have large impacts on global aggregates. Behind the strong overall trade increase, however, there is significant divergence across countries, with some developing regions falling well short of the global average. Imports of Asia in 2021 are expected to rise 9.4% compared to 2019, while imports of Least-Developed Countries (LDCs) will fall 1.6%. Global GDP will grow 5.3% in 2021, up from 5.1% forecasted in March. Growth should slow to 4.1% in 2022, up from 3.8% previously. Firm global cues kept MCX Copper supportive too. MCX Copper futures above moved up above Rs 730 per kg mark with weak Indian Rupee boosting the metal further. Powered by Commodity Insights |
| COMEX Silver futures bounced as lows near $21.40 per ounce provided good support for the commodity amid steady Gold prices. The metal jumped to a two-week high above $23.20 per ounce as markets eyed a recovery in Indian demand and firm industrial outlook globally. The RBI noted that India's gross domestic product (GDP) growth for the first quarter of the next financial year 2022-23 is projected at 17.1%. For the current fiscal 2021-22, GDP growth projection is retained at 9.5%. The domestic economy grew by 20.1% in the first quarter of the current financial year. The sharp jump in the gross domestic product (GDP) was mostly aided by the low base effect as the economy had contracted by a record 24.4% in the year-ago period. This recovery should augur well for local consumer spending in festive season. MCX Silver also moved up on these cues, witnessing good buying under Rs 60000 per kg mark and ended near Rs 62K per kg. Powered by Commodity Insights |
The Indian rupee plummeted sharply against the dollar amid surging crude oil prices. Rupee tumbled 20 paise to close at 74.99 (provisional) against the US dollar on Friday. At the interbank foreign exchange market, the local currency opened at 75 and witnessed an intra-day high of 74.91 and a low of 75.16 against the US dollar in day trade. The local unit finally settled at 74.99 a dollar, down 20 paise over its previous close. On Thursday, the rupee had settled at 74.79 against the US dollar. Meanwhile, the BSE Sensex ended 381.23 points or 0.64 per cent higher at 60,059.06, while the broader NSE Nifty advanced 104.85 points or 0.59 per cent to 17,895.20. The Reserve Bank of India (RBI) on Friday decided to keep the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance even as the economy is showing signs of recovery after the second COVID wave. Powered by Commodity Insights |
| COMEX Copper futures eased a little ahead of US nonfarm payrolls as recent rally triggered some profit selling amid mixed equities. Copper hit one week high of $4.30 per pound in Asia as Asian stocks traded higher on firm US markets. Chinese stocks jumped on the first day of trade after a week-long holiday with Shanghai Composite index rising 0.67%. Hong Kong's Hang Seng index gained 0.55% on the day while Japan's Nikkei average added 1.34%. European stocks saw choppy moves though and Copper saw sustained losses once the $4.30 per pound barrier was tested. The counter currently trades down 0.14% at $4.23 per pound. MCX Copper futures are currently trading at Rs 723.30 per kg, down 0.20% on the day. Powered by Commodity Insights |
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