Financial Market Overview
26th April, 2018
MARKETS AT OPEN:-
- Rupee higher as corporate dollar sales offsets rising U.S. yields. Pair USDINR now at 66.81 against 66.90 previous close.
- Pair to tip in range between 66.60-66.90.
- Benchmark indices opened flat on Thursday, the expiry day for April derivative contracts.
- The 30-share BSE Sensex was up 46.40 points at 34,547.67 and the 50-share NSE Nifty rose 5.40 points to 10,575.90.
- Asian markets are lower today. The Shanghai Composite is off 0.90%, the Hong Kong’s Hang Seng is down 0.62% and the Australian ASX200 is trading lower by 0.08%.
- European markets finished broadly lower on Wednesday with shares in Germany leading the region. The DAX is down 1.02% while London’s FTSE 100 is off 0.62% and France’s CAC 40 is lower by 0.57%.
- US. stocks were mixed at the close on Wednesday, as gains in the Oil & Gas, Telecoms and Basic Materials sectors led shares higher while losses in the Financials, Technology and Consumer Goods sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average gained 0.25%, while the S&P 500 index added 0.18%, and the NASDAQ Composite index lost 0.05%.
- The dollar index rose for the sixth day in the last seven sessions through yesterday as widening interest differentials pushed the euro and the yen lower. The euro, which has the maximum weight on the index, dropped 0.6% yesterday, and the yen declined for the sixth straight day to well below 109 versus the dollar. The U.S. 10-year bond yields continued to climb, closing above the 3% threshold.
- Investor focus turns to the European Central Bank policy review later today. The ECB is set to keep its policy unchanged, playing down worries over recent softness in the euro-zone economy.