Feb 12 2019

Financial Market Overview

12th February, 2019

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee extended gains to trade near a one-month high against the dollar in afternoon trade, as banks continued to sell the greenback on behalf of their custodial clients, outweighing broad strength in the U.S. currency.
  • The rupee was last seen at 70.82 to a dollar, its highest since Jan. 14, and against 71.17 at previous close. The currency opened flat, and fell to day’s low of 71.22, before rising above its psychologically important level of 71 for first time in over a week.

Indian Equities:-

  • The indices are trading at their lowest point of the day. Sensex is down 80.25 points or 0.22% at 36314.74, and the Nifty down 15.50 points or 0.13% at 10874.50. About 949 shares have advanced, 1345 shares declined, and 131 shares are unchanged.
  • Local investors await India’s retail inflation data for January and industrial production data for December, to be released after market hours today.

Global Markets:-

  • Asian markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 2.61% while China’s Shanghai Composite is up 0.68% and Hong Kong’s Hang Seng is up 0.11%.
  • European markets are broadly higher today with shares in Germany leading the region. The DAX is up 1.10% while France’s CAC 40 is up 0.72% and London’s FTSE 100 is up 0.41%.
  • The benchmark Brent crude oil price rose 0.5% to $61.82 per barrel, recouping some of its overnight losses of around 1%, on output cuts led by the Organization of the Petroleum Exporting Countries. U.S. sanctions against Iran and Venezuela also aided crude prices.
  • The dollar index rose for the eighth straight day yesterday, advancing 0.4% to its highest since mid-December. In the current winning run, the dollar index has added about 1.5% amid worries over Europe’s economy and uncertainty over U.S.-China trade talks. The index was last trading little changed at 97.09.