Financial Market Overview
03rd April, 2018
MARKETS AT OPEN:-
- Indian rupee opens higher against the dollar at 65.08 as China-U.S. trade tensions continued to weigh on the outlook for the greenback. Pair USDINR now at 65.07 against 65.17 previous close.
- Pair to tip in range between 65.00-65.20.
- The market has begun the day on a mildly lower note, with the Nifty holding on to the 10,200-mark in the opening minutes. The Sensex was trading almost flat.
- The Sensex is down 17.92 points or 0.05% at 33237.44, while the Nifty is down 4.60 points or 0.05% at 10207.20. The market breadth favours the negative as 268 shares advanced, against a decline of 295 shares, while 80 shares were unchanged.
- Asian markets are lower today. The Shanghai Composite is down 0.93%, Hong Kong’s Hang Seng lost 0.58% and the Australian ASX200 is trading mildly lower by 0.06%.
- European markets finished broadly higher on Thursday with shares in Germany leading the region. The DAX is up 1.31% while France’s CAC 40 is up 0.72% and London’s FTSE 100 is up 0.17%.
- US. stocks plunged on Monday as investors fled technology stocks amid resurging trade worries, sending the S&P 500 and the Dow Jones Industrial Average below their 200-day moving averages for the first time since the Brexit vote in June 2016. The Dow Jones Industrial Average fell 458.92 points, or 1.9 percent, to 23,644.19, the S&P 500 lost 58.99 points, or 2.23 percent, to 2,581.88 and the Nasdaq Composite dropped 193.33 points, or 2.74 percent, to 6,870.12.
- The focus of investors at the beginning of the new quarter remained on trade policies of the U.S. and China. Beijing yesterday raised levies on $3 billion worth of U.S. imports in response to Washington’s tariffs on metals announced last month, escalating the already high tensions. The Trump administration on its part is expected to unveil this week a list of Chinese goods that could be subjected to new tariffs announced for alleged intellectual property infringement.
- In economic data out of U.S., the Institute for Supply Management said its index of national factory activity fell to a reading of 59.3 last month from 60.8 in February.