Financial Market Overview
15th June, 2018
MARKETS AT Noon:-
- Indian rupee came off the day’s low against the dollar in afternoon trade, as greenback sales by state-run lenders, apparently on behalf of the central bank, limited losses triggered after the dollar index advanced to a seven-month high.
- The rupee was last seen at 67.96 to a dollar at , from 67.62 at previous close. The currency opened at 67.87 and extended decline to 68.03, its lowest since May 25, but trimmed some losses after at least two state-run banks sold dollars, likely on instructions of the Reserve Bank of India.
- Benchmark indices extended losses in afternoon with the Sensex falling 155.56 points to 35,444.26, dragged by banking & financials, FMCG and oil retailers.
- The 50-share NSE Nifty slipped 40.20 points to 10,767.85 while the Nifty Midcap index declined 0.8 percent.
- Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.38%, while the Hang Seng led the Shanghai Composite lower. They fell 1.25% and 0.97% respectively.
- European markets are higher today with shares in France leading the region. The CAC 40 is up 0.47% while Germany’s DAX is up 0.40% and London’s FTSE 100 is up 0.03%.
- The dollar index, measured against a basket of six major currencies, extended gains to 0.32% at 95.07, its highest since November 2017. It rose 1.1%, overnight on upbeat U.S. economic data and as the euro plunged from near 1.1800 to below 1.1600 against the dollar yesterday as the ECB signaled it will probably keep interest rates at the current level well into the next year, a longer period than what a section of investors expected. The euro briefly rallied yesterday to a one-month high after the ECB said it will end its bond-buying program by the end of this year. It was last trading flat at 1.1587.
- The Japanese yen was trading steady against dollar. The Bank of Japan held interest rates, as was widely expected, while revising its projection on inflation downwards.