Financial Market Overview
11th May, 2018
MARKETS AT Noon:-
- Indian rupee pared early gains and was little changed against the dollar in afternoon trade, as concerns over elevated crude oil prices and importers’ dollar demand offset gains tracking overnight greenback weakness.
- The rupee was last seen at 67.34 to a dollar, against 67.31 at previous close. It rose to as much as 67.11 before paring most gains amid dollar purchases by several state-run banks, likely on behalf of importer clients. Most other Asian currencies traded mixed against the greenback.
- Indian shares rose on Friday tracking Asian peers following an overnight rally in U.S. equities after soft inflation data in the world’s largest economy indicated that the Federal Reserve may not increase interest rates at a faster pace.
- The NSE index was up 0.39 percent at 10,757.85, while the benchmark BSE index was 0.33 percent higher at 35,361.83. Both the indexes are on track for a sixth weekly gain in seven.
- European markets are lower today with shares in France off the most. The CAC 40 is down 0.18% while Germany’s DAX is off 0.03% and London’s FTSE 100 is lower by 0.03%.
- Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.98%, while the Nikkei 225 led the Shanghai Composite lower. They fell 0.44% and 0.35% respectively.
- The dollar index dropped 0.4% overnight, easing from a more-than-four-month high seen earlier this week, weighed by subdued headline and core U.S. inflation that reduced expectations of faster rate hikes by the Fed. It was last trading up 0.16% at 92.80.