Financial Market Overview
05th July, 2018
MARKETS AT Noon:-
- Indian rupee is trading flat against the dollar at 68.82 in afternoon trade, after increased demand from importers and banks amid foreign fund outflow and lower equities.
- Rupee is seen following most Asian currencies which are also down against the greenback.
- The rupee was last seen at 68.82 to a dollar, from 68.7350 at previous close. It opened at 68.80 to dollar and has remained in 17-paisa band so far.
- The market continued to trade sideways even after RIL’s AGM.
- The Sensex was flat, +2.57 points at 35,642.83 and the Nifty rose 3.9 points to 10,766.00
- There has been an increase in fuel prices after almost a month due to increasing crude prices and a weakening rupee.
- Australian shares S&P/ASX 200 wound up the day higher at 0.44 percent.
- Asian markets have closed lower with Shanghai Composite down 0.91 percent at 2,734 while Japan’s benchmark, Nikkei 225 finished the day 0.78 percent lower at 21,547. The Hang Seng lost about 0.33 percent at 28,152.
- European markets have opened little higher with shares in Germany leading the region. The CAC 40 is up 0.74% while London’s FTSE 100 is up 0.33% and Germany’s DAX is up 0.97%.
- After yesterday’s UK’s Services PMI for June, which came higher at 55.1 gave direction to the markets, today’s comments from BoE Governor Mark Carney would decide the path for the day for Cable.
- From the US the much awaited FOMC minutes along with the weekly initial jobless claims would be watched out for.
- Brent oil prices have fallen by $0.50 to $77.72 after the tweet from Donald Trump on reduce pricing now’ to OPEC.