Financial Market Overview
19th June, 2018
MARKETS AT Noon:-
- Indian rupee slipped more against the dollar in afternoon trade, in line with weak Asian peers, as global markets feared an escalation in trade-related tensions between the U.S. and China.
- The rupee was last seen at 68.21 to a dollar, also lowest since May 25, against 67.99 at close yesterday. It briefly rose to 67.97 in early trade but has since then slipped to as much as 68.25 so far.
- The market continued to trade lower in afternoon following weakness in global peers after US President Donald Trump threatened more tariffs on Chinese products.
- The 30-share BSE Sensex dropped 227.24 points to 35,321.02 and the 50-share NSE Nifty fell 83.55 points to 10,716.30 while the Nifty Midcap index corrected further, falling more than 1 percent.
- Asian markets finished sharply lower today with shares in China leading the region. The Shanghai Composite is down 3.78% while Hong Kong’s Hang Seng is off 2.65% and Japan’s Nikkei 225 is lower by 1.77%.
- European markets are broadly lower today with shares in Germany off the most. The DAX is down 1.61% while France’s CAC 40 is off 1.24% and London’s FTSE 100 is lower by 0.71%.
- The dollar index, measured against a basket of six major currencies, was trading 0.05% lower after ending little changed yesterday, amid elevated demand for safe-haven currencies such as the Japanese yen. The yen was last trading 0.8% higher against the dollar.