Indian ADRs: Wipro gains 4%, Tata Motors up 3.7%

Indian ADRs ended higher on Tuesday. In the IT space, Infosys was up 0.43 percent at USD 16.29 and Wipro gained 4.39 percent at USD 5.71. In the banking space, ICICI Bank was up 1.44 percent at USD 9.87 and HDFC Bank rose 0.65 percent at USD 102.33. In the other sectors, Tata Motors added 3.78 percent at USD 34.32 and Dr Reddy's Laboratories rose 1.41 percent at USD 38.09.

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Wall Street Starts Year On Strong Note; Nasdaq Ends Above 7,000

US stocks rose in the first session of the new year and the Nasdaq closed above 7,000 for the first time on Tuesday as investors were optimistic that 2018 will bring more gains for the market. The Nasdaq, driven by gains in Apple , Facebook , Amazon and Alphabet , breached 6,000 in April of last year and closed above 5,000 in 2015 for the first time in 15 years. The technology index added 1.4 percent on Tuesday, following a 37-percent surge in 2017 that made it the best-performing S&P 500 sector.

The S&P 500 also hit a record high close. Besides technology, S&P consumer discretionary, healthcare, energy and materials indexes all were up more than 1 percent on the day. Major stock indexes closed out 2017 with their best performances since 2013. Many investors say the rally could continue this year with help from the recently approved US tax overhaul that is anticipated to boost profits as well as the economy.

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Indian Rupee Opens Lower At 63.55 Per Dollar

The Indian rupee slipped in the early trade on Wednesday. It has opened lower by 7 paise at 63.55 per dollar versus 63.48 yesterday. Rupee will continue its northward journey on the back of sudden FII inflow. Thus trading range for the spot USD-INR will be 63.30-63.60. The dollar near 3-month low, weighed down by expectations of a slower pace of interest rate increases by the Federal Reserve amid a tepid US Inflation picture. Meanwhile, the euro rose to nearly four-month high and Japanese yen strengthens against the US currency.

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Housing Price Index Rises 7.3% In Q2 FY18: RBI

All-India House Price Index (HPI) annual recorded growth of 7.3 per cent on annual basis (i.e., Q2:2017-18 over Q2:2016-17) as against 8.7 per cent observed in the previous quarter and 7.7 per cent a year ago, according to data released by the RBI. The Reserve Bank released the quarterly house price index (HPI) (base: 2010-11=100) for Q2:2017-18, based on transactions data received from housing registration authorities in ten major cities (viz., Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Lucknow, Ahmedabad, Jaipur, Kanpur and Kochi). The All-India HPI recorded a sequential increase (i.e., Q2:2017-18 over Q1:2017-18) of 0.4 per cent, with six of the ten cities recording a rise in the latest quarter.

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Indian ADRs: Tata Motors Gains 2%, HDFC Bank, Wipro Up

Indian ADRs ended higher on Friday. In the IT space, Infosys rose 0.37 percent at USD 16.22 and Wipro added 1.11 percent at USD 5.47. In the banking space, HDFC Bank gained 0.63 percent at USD 101.67 and ICICI Bank was down 0.21 percent at USD 9.73. In the other sectors, Tata Motors advanced 2.32 percent at USD 33.07 and Dr Reddy's Laboratories rose 0.94 percent at USD 37.56.

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Wall Street Quiet On Last Trading Day Of A Strong year

There were no fireworks on Wall Street for the last trading day of the year, as US stocks closed out their best year since 2013 on a down note, with losses in technology and financial stocks keeping equities in negative territory for the session. Major indexes hit a series of record highs in 2017, lifted by a combination of strong economic growth, solid corporate earnings, low interest rates and hopes for a tax cut from U.S. President Donald Trump's administration.

The benchmark S&P 500 surged 19.5 percent this year, the blue-chip Dow 25.2 percent and Nasdaq 28.2 percent, as each of the major Wall Street indexes scored the best yearly performance since 2013.

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Indian Rupee Opens Flat At 63.69 Per Dollar

The Indian rupee opened flat at 63.69 per dollar on Tuesday against previous close 63.68.

Bhaskar Panda of HDFC Bank said, In an otherwise lacklustre market yesterday, INR appreciated against USD to close below the important 63.80 mark. Today, all markets are open. I expect USD-INR pair to trade in a range of 63.65-63.85. Any downward movement may be tempered by RBI buying. "The 10-year benchmark yield had shot up earlier post the announcement of additional Government borrowing. Today, I expect the yield to be within a range of 7.32-7.38 percent.

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