Financial Market Overview
14th August, 2018
Markets at Noon:-
- Indian rupee finally braced the 70 mark to dollar and hit an all time low of Rs 70.1 to the greenback as concerns about Turkey’s economic woes persisted.
- The rupee was last seen at 69.9350 to a dollar, same as yesterday’s close this is after opening at 69.85 today.
- Indian shares are up about 0.6 percent today tracking higher Asian peers, inspite of the rupee hitting an all-time low against the dollar.
- The Sensex is up 218 points or 0.58% at 37864.36, while the Nifty is up 79.25 points or 0.69% at 11433.45.
- Asian markets finished mixed today. The Nikkei was sharply up 2.28 percent while Hong Kong Hang Seng ended lower by 0.7% and the Shanghai Composite closed down by 0.18%.
- European markets are higher today. The Germany’s DAX is trading higher by 0.41% followed by a flat FTSE 100 of London and the France’s CAC up 0.30%.
- Turkey’s Lira was higher with equities also bounced after yesterday’s turmoil.
- Before the financial crisis of Turkey is spreads globally, the major currency pairs are gaining strength with Euro back to 1.14 and Cable at 1.2782.
- UK labour market was strong in July with unemployment rate dropping to 4 percent, lowest since February 1975.
- Euro’s Germany ZEW economic confidence data for August has kept the single currency unchanged. It came at -13.7against an expected -20.1
- Eurozone GDP (YoY) came at 2.2 percent higher than an expected 2.1 percent.