Financial Market Overview
13th February, 2018
MARKETS AT OPEN:-
- India’s currency markets are closed today for a public holiday. Trading will resume on Wednesday.
- India’s retail inflation rate stood at 5.07% in January from a year earlier, as food price inflation slowed, government data showed yesterday. In December, retail inflation had stood at 5.21%, the fastest in 17 months.
- India’s industrial production rose 7.1% in December from a year earlier, as capital goods and electricity output grew at a faster pace, government data showed today. The reading was lower than November’s upwardly revised expansion of 8.8%, but beat a 6.2% median estimate in a poll of economists.
- Indian financial markets are shut today for a local holiday.
- Asian markets are higher today ,the Hang Seng is up 2.18%, the Shanghai Composite gains 1.80% while the Australian ASX200 is trading higher by 0.61%.
- European markets closed sharply higher on Monday with shares in Germany leading the region. The DAX is up 1.45% while France’s CAC 40 is up 1.20% and London’s FTSE 100 is up 1.19%.
- Wall Street’s three major indexes rebounded on Monday with broad-based gains as investors regained some confidence after U.S. equities’ biggest weekly drop in two years, but strategists stopped short of calling an end to the market pullback. The Dow Jones Industrial Average rose 410.37 points, or 1.7 percent, to 24,601.27, the S&P 500 gained 36.45 points, or 1.39 percent, to 2,656 and the Nasdaq Composite added 107.47 points, or 1.56 percent, to 6,981.96.
- In Japan, producer prices showed a 0.3% gain on month, beating the 0.2% rise seen and a 2.7% rise on year as expected.
- The dollar rose in Asia on Tuesday with gains against the yen even after producer prices rose on month in Japan with markets in the region noting the major Chinese New Year holidays start at the end of the week. The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, rose 0.04% to 90.05.