Jun 26 2018

Rupee off day’s low tracking recovery in local equities

Financial Market Overview

26th June, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • Indian rupee came off the day’s low against the dollar in afternoon trade, as recovery in local shares aided sentiments even as trade-related concerns led by the U.S. persisted.
  • The rupee was last seen at 68.11 to a dollar, from 68.12 at previous close. It opened at 68.13 and extended losses to 68.21. Most Asian currencies were trading mixed against the greenback.

Indian Equities:-

  • The market continued to be rangebound ahead of expiry of June futures & options contracts later this week, and amid trade tensions between US and China.
  • The Sensex rose 18.35 points to 35,488.70 and the Nifty gained 3.70 points at 10,766.15 while the Nifty Midcap index fell third of a percent as about two shares declined for every share rising.

Global Markets:-

  • Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.02%, while the Shanghai Composite led the Hang Seng lower. They fell 0.51% and 0.28% respectively.
  • European markets are higher today with shares in Germany leading the region. The DAX is up 0.33% while London’s FTSE 100 is up 0.34% and France’s CAC 40 is up 0.29%.
  • China and the EU, following talks in Beijing, said they oppose trade protectionism and warned that a trade war could prompt global recession risks, according to media reports. The remarks came after reports that Washington is crafting rules that would block firms with at least 25% Chinese ownership from buying U.S. companies involved in “industrially significant technology”. The U.S. has also threatened to impose tariffs on cars imported from the European bloc.