Friday, 17 August 2018

Oil prices fell, ith US Crude Heading For A Seventh Weekly Decline Amid

Oil prices fell, with US crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products.

Brent crude oil futures were down 0.07 percent to $71.38 a barrel and US West Texas Intermediate (WTI) crude futures dropped 0.05 percent to $65.43 a barrel.

Brent is heading for a 2 percent decline this week, a third consecutive weekly drop. WTI is on track for a seventh week of losses, with a fall of more than 3 percent. Reuters Reported.

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Asian Markets Traded Mostly Higher Today Following Positive Lead

Asian markets traded mostly higher today, following positive lead from Wall Street and positive newsflow on US-China trade war front.

Japan's Nikkei jumped over 2 percent followed by Hong Kong's Hang Seng (up 0.5 percent), Australia's ASX 200 (0.2 percent) and South Korea's Kospi (0.37 percent). However, only China's Shanghai Composite traded half a percent lower.

US markets on Thursday ended higher with Dow Jones rising 1.6 percent (the biggest jump since April). S&P 500 gained 0.8 percent and Nasdaq Composite rose 0.42 percent.

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Thursday, 16 August 2018

On Thursday Rupee Opened At Record Low 70.19 Against The US Dollar

On Thursday, rupee opened at record low 70.19 against the US dollar and further slipped to 70.26. It hit 70 to the dollar for the first time on Tuesday, falling 15 paise intraday due to sharp depreciation in Turkish lira.

The rupee has fallen more than 9 percent year-to-date and around 2 percent in August.

Samiran Chakraborty of Citi told CNBC-TV18 that persistent disappointment on the current account deficit (CAD) & weak Emerging markets sentiment opens up the possibility of the dollar-INR heading towards the 72 mark as the 67 to 69 range shifted to a 69 to 72 range.

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The Nifty50 Index Is Continuously Trading Above Its Short-Term Upward Trend Line

The Nifty50 index is continuously trading above its short-term upward trend line (trend line drawn from June 28 to July 20 low) which indicates that the index has potential to move higher around 11,495 (life time high level) and 11,588 (upper Bollinger band) with the support around 11,376 (trend line) and 11,310 (20EMA) levels.

The Relative Strength Index (RSI) on the daily chart is 67.76, trading near overbought zone and the daily MACD trading above zero line but just crossed below its signal line, which indicates that the bias could remain sideways in upcoming trading sessions.

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Monday, 13 August 2018

The Indian Rupee Slipped To A Record Low As It Fell 66 Paise in The Early Trade On Monday

The Indian rupee slipped to a record low as it fell 66 paise in the early trade on Monday. It has opened at 69.47 per dollar on Monday versus 68.83 Friday.

The dollar-rupee August contract on the NSE was at 68.99 in the previous session. August contract open interest declined 1.86% in the previous day, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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Equity Benchmarks Have Continued To Trade In The Red On Monday Morning



Equity benchmarks have continued to trade in the red on Monday morning. The Sensex is down over 250 points, while the Nifty is hovering around 11,350-mark.

At 10:29 hrs IST, the Sensex is down 261.15 points or 0.69% at 37608.08, and the Nifty down 75.00 points or 0.66% at 11354.50. The market breadth is negative as 721 shares advanced, against a decline of 1,365 shares, while 106 shares were unchanged.

Banks have continued to be weak along with auto, energy and metal names. Traditional defensives IT and pharma are trading in the green.

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Friday, 10 August 2018

The Indian Rupee Opened Lower By 15 Paise At 68.83 Per Dollar On Friday

The Indian rupee opened lower by 15 paise at 68.83 per dollar on Friday versus previous close 68.68.

The dollar-rupee August contract on the NSE was at 68.82 in the previous session. August contract open interest increased 4.31% in the previous day, said ICICIdirect.

We expect the USD-INR to find supports at lower levels. Utilise downsides in the pair to initiate long positions, it added.

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