Financial Market Overview
15th February, 2019
MARKETS AT CLOSE:-
- The Indian rupee posted its first weekly rise in six weeks against the dollar, helped by dollar inflows into local markets even as rally in crude oil prices trimmed most of the weekly gains.
- The rupee settled lower at 71.22 to a dollar today, its lowest since Feb. 8, and against 71.16 at previous close. The currency opened at 71.23 and extended decline to 71.44, before paring some losses on dollar sales by at least two state-run banks along with a private lender on the instructions of the Reserve Bank of India. For the week rupee rose 0.1% against the dollar, after advancing as much 1.3% earlier in the week.
- Dollar inflows via government’s disinvestments plans and proposed foreign direct investments had supported the rupee earlier this week.
- Benchmark indices registered strong recovery from the day’s low point with Nifty able to close above 10,700 level.
- The Sensex was down 67.27 points at 35808.95, while Nifty was down 21.60 points at 10724.40. About 911 shares have advanced, 1581 shares declined, and 136 shares are unchanged.
- European markets are higher today with shares in France leading the region. The CAC 40 is up 0.96% while Germany’s DAX is up 0.45% and London’s FTSE 100 is up 0.37%.
- The S&P 500 and the Dow slipped while the Nasdaq posted a slim gain on Thursday as investors struggled to square grim retail sales data with hopes that high-level talks in Beijing could resolve the ongoing U.S.-China trade dispute. The Dow Jones Industrial Average fell 103.88 points, or 0.41 percent, to 25,439.39, the S&P 500 lost 7.3 points, or 0.27 percent, to 2,745.73 and the Nasdaq Composite added 6.58 points, or 0.09 percent, to 7,426.96.
- British retail sales rebounded strongly in January as steep clothing discounts attracted wary shoppers, bucking a slowdown in consumer spending ahead of Brexit. Sterling edged a little higher against the dollar on the back of the figures.
- U.K. retail sales rose by 1% in January, as consumers shrugged off uncertainty over the country’s plan to leave the European Union at the end of March and took advantage of post-holiday sales.
- Retail sales rose 1% in January and were up 4.2% from a year earlier, the Office for National Statistics said on Friday. That was compared to a fall of 0.7% in the previous month, which was revised up from a negative 0.9%.
- The euro zone’s trade surplus in goods with the rest of the world shrank last year because of higher imports, data from the European Union’s statistics office Eurostat showed on Friday. Eurostat said the unadjusted trade surplus of the 19-country currency bloc amounted to 194.2 billion euros ($219 billion) in 2018, down from 234.9 billion in 2017. Euro zone imports increased last year by 6.2 percent, while exports rose only 3.7 percent compared to 2017.