Financial Market Overview
28th March, 2018
MARKETS AT Noon:-
- Indian Rupee extended losses against the dollar in afternoon trade, as greenback demand from importers ahead of the long weekend and uncertainty over protectionist U.S trade policies outweighed early gains.
- The rupee was last seen at 65.02 to a dollar, against 64.98 at close in the previous session. The currency opened higher at 64.88 per dollar, tracking gains in most Asian currencies, before falling to day’s low of 65.09. Other Asian currencies were last trading mixed.
- The market remained under pressure ahead of expiry of March futures & options contracts, as European stocks declined following negative lead from Asia and Wall Street.
- The 30-share BSE Sensex is down 163.24 points at 33,011.15 and the 50-share NSE Nifty fell 46.25 points at 10,137.90.
- European markets are broadly lower today with shares in Germany off the most. The DAX is down 1.52% while France’s CAC 40 is off 1.45% and London’s FTSE 100 is lower by 1.03%.
- Asian markets finished sharply lower today with shares in Hong Kong leading the region. The Hang Seng is down 2.50% while China’s Shanghai Composite is off 1.40% and Japan’s Nikkei 225 is lower by 1.34%.
- Dollar index, which measures the greenback against a basket of six major rivals, gained 0.3% overnight, while U.S. bond prices rallied with the 10-year Treasury yield closing at 2.79%, its lowest level in seven-weeks. The dollar index was last trading up 0.15%.
- The euro declined 0.3% against the greenback yesterday on Finland Central Bank Governor Erkki Liikanen’s comments that indicated the possibility of the European Central Bank extending its bond purchase programme if ongoing economic recovery shows signs of distress, according to media reports.