Financial Market Overview
29th May, 2018
MARKETS AT OPEN:-
- Indian rupee opened lower against the dollar at 67.61, tracking other emerging currencies like Chinese Yuan and Korean Won and the local currency also started consolidation after its biggest two-day jump in more than a year. Pair USDINR now at 67.69 against 67.43 previous close.
- Pair to tip in range between 67.53-67.80.
- Benchmark indices opened mildly lower on Tuesday morning due to profit booking after three-day run up.
- The 30-share BSE Sensex fell 56.44 points to 35,109.04 and the 50-share NSE Nifty declined 21.90 points to 10,666.80.
- Asian markets are mixed today. The Hong Kong Hang Seng lost 0.75% , the Shanghai Composite is down 0.59% while the Australain ASX is trading higher by 0.22%.
- European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.18%, while the CAC 40 led the DAX lower. They fell 0.61% and 0.58% respectively.
- Stock Markets in US. were closed on Monday on the account of US. Memorial day.
- The dollar index was last hovering near its highest level this year, primarily on account of the euro’s weakness. Chinese yuan and Korean won led regional currencies lower, down 0.2% each. Markets in Indonesia, Thailand, Malaysia, and Singapore are closed today.
- The U.S. 10-year borrowing cost fell below 2.90% in early Asia trading, now down more than 20 basis points from the recent highs. The spread of the 10-year yields to that of two-year narrowed to 45 basis points.
- Japan’s jobless rate held steady in April and the availability of jobs also remained unchanged, government data showed on Tuesday. The seasonally adjusted unemployment rate stood at 2.5 percent, the Internal Affairs ministry said. The result matched the median estimate of economists poll.