Jun 19 2018

Rupee extend losses on global risk aversion

Financial Market Overview

19th June, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • 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.

Indian Equities:-

  • 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.

Global Markets:-

  • 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.