Financial Market Overview
14th November, 2017
MARKETS AT OPEN:-
- Indian rupee opens higher at 65.33 against the dollar, tracking strength in most Asian currencies, as the greenback steadied after a rally amid a rise in U.S. Treasury yields and a decline in pound.; pair USDINR now at 65.30, against 65.42 previous close.
- Data released yesterday showed, India’s retail inflation edged up 3.58% in October from a year earlier, the fastest pace of growth since March. A survey of economists had expected October inflation rate to quicken to 3.46% from September’s print of 3.28%.
- Pair to tip in range between today 65.20-65.41.
- Equity benchmarks opened flat on Tuesday after sharp correction seen in previous session. Investors focussed on corporate earnings.
- The 30-share BSE Sensex was down 14.55 points at 33,019.01 and the 50-share NSE Nifty fell 3 points to 10,222.
- Coal India, Vedanta, BPCL, L&T and Bharti Infrtel were early losers. Sun Pharma, HCL Technologies, Bharti Airtel, M&M, Lupin, Yes Bank, Kotak Mahindra Bank and Eicher Motors were early gainers.
- Asian markets are lower today, Japanese and Hong Kong shares fall. The Nikkei 225 is off 0.27% while the Hang Seng is down 0.06%. The Shanghai Composite is down 0.45% and Australian ASX200 is trading lower by 0.84%.
- US stock indexes rose on Monday. The Dow Jones Industrial Average added 19.07 points, or 0.07%, to 23,441.28, the S&P 500 rose 2.44 points, or 0.10%, to 2,584.74 and the Nasdaq Composite gained 6.40 points, or 0.10%, to 6,757.34.
- European markets finished lower Yesterday with shares in France leading the region. The CAC 40 is down 0.73% while Germany’s DAX is off 0.40% and London’s FTSE 100 is lower by 0.24%.
- Lower-than-expected China’s retails sales, industrial output data for the month of October also weighed on risk sentiment. The nation’s retail sales rose 10% and industrial output grew 6.2%, both lagging analyst expectation of 10.4% and 6.3%, respectively in a poll. China’s fixed-asset investment growth also slowed to 7.3% in the January-October period and was below market expectations of 7.4% rise.
- Markets now await comments from key central bankers, including U.S. Federal Reserve’s Chair Janet Yellen, European Central Bank head Mario Draghi, Bank of Japan Governor Haruhiko Kuroda and Bank of England head Mark Carney at the ECB-hosted conference in Frankfurt due later today.