Indian Rupee opens lower at 64.66 per Dollar

rupee-1The Indian rupee slipped in the early trade on Thursday. It has opened lower by 8 paise at 64.66 per dollar versus 64.58 Wednesday. Rupee is rangebound, consolidating after sharp gains in March. The USD-INR trading range for the day is 64.50- 64.80/dollar.” The dollar rose, a day after dropping to a 3-week low, but gave up some gains after a report from the Federal Reserve suggested the outlook for the US economy isn’t as rosy as it was earlier in the year.

 

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Asia cautiously higher after Wall Street earnings; French election eyed

The first round of the tight French presidential election this weekend could influence movements in euro/dollar, said IG Chief Market Strategist Christ Weston in a Thursday morning note.

Most Asian indexes were cautiously higher on Thursday, following key earnings on Wall Street and as oil prices came off two-week lows set earlier in the session.
Japan’s benchmark Nikkei 225 index climbed 0.22 %and the ASX 200 was up by 0.29. The Kospi was higher by 0.16 %.

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Indian ADR: Infosys, HDFC Bank Dr Reddy’s Lab, Tata Motors slip

Asian_markets_china__356x200_2929_356Indian ADRs ended lower on Thursday.

In the IT space, Infosys was down 0.33 percent at USD 18.89

Wipro fell up 0.18 percent at USD 12.16.

In the banking space, ICICI Bank was down 0.14 percent at USD 7.34

HDFC Bank slipped 0.65 percent at USD 62.83.

In the other sectors, Tata Motors shed 0.66 percent at USD 30.71

Dr Reddy’s Laboratories dipped 0.43 percent at USD 46.36.

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Asian Market Commentary

Asian_markets_china__356x200_2929_356Asia markets traded mixed on Tuesday, with markets in Japan and Australia seeing losses after a mixed finish on Wall Street overnight. The Japanese Nikkei 225 was off 0.82 percent, while the Topix fell 0.77 percent.

Across the Korean Strait, the Kospi was higher by 0.41 percent. Australia’s ASX 200 retraced some of the early losses, but was still down 0.49 percent, after being closed for the Easter holiday on Friday and Monday.

Down Under, the financials subindex dropped 1.37 percent, with ANZ down 2 percent, Commonwealth Bank of Australia down 1.38 percent, Westpac off by 1.65 percent and NAB down 0.99 percent.

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Sensex ends below 24000, Nifty weak; Infosys, SBI gain 1-2%

The market has ended lower once again. The Sensex ended below 24000 for first time since May 2014. The 30-share index was down 99.83 points or 0.4 percent at 23962.21 and the Nifty slipped 32.50 points or 0.4 percent at 7276.80.

About 1289 shares advanced, 1301 shares declined and 184 shares were unchanged.

Axis Bank, Tata Steel, Wipro, SBI and Infosys were top gainers while Tata Motors, Dr Reddy’s Labs, Maruti, Coal India and ONGC were losers in the Sensex.
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