Financial Market Overview
28th January, 2019
MARKETS AT CLOSE:-
- Indian rupee rose against the dollar, tracking broad weakness in the U.S currency ahead of the Federal Reserve’s policy review and interim budget at home later this week.However, slump in local shares amid ongoing fiscal concerns limited significant gains in the local currency.
- The rupee ended at 71.10 to a dollar, against 71.18 at previous close. The currency opened higher at 71.00 and extended gains to 70.97, before falling to the day’s low of 71.19. Other Asian currencies ended mixed against the dollar.
- Benchmark indices slipped 1 percent but off day’s low with Nifty finished below 10,700 level, while Sensex closed 368 points lower.
- The Sensex was down 368.84 points at 35656.70, while Nifty was down 119 points at 10661.50. About 618 shares have advanced, 1933 shares declined, and 133 shares are unchanged.
- European markets are lower today with shares in France off the most. The CAC 40 is down 0.46% while London’s FTSE 100 is off 0.41% and Germany’s DAX is lower by 0.25%.
- The pound drifted lower on Monday after posting its biggest weekly rise in more than 15 months last week as investors consolidated positions before crucial votes in the British parliament that will aim to break a Brexit deadlock. The euro edged down on Monday as investors bought the dollar and prepared for volatile markets ahead of U.S.-China trade talks and a Federal Reserve policy decision.
- The dollar index slipped 0.8% in the previous session as the Fed’s two-day policy meeting starts tomorrow, where the authority is widely expected to indicate a pause on its rate tightening cycle.
- Oil prices fell 1.33 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, and as China, the world’s second-largest oil user, reported additional signs of an economic slowdown.
- Gold prices rose on Monday, trading towards $1,300 level ahead of a U.S. Federal Reserve meeting later this week where the central bank is widely expected to leave interest rates unchanged.