Financial Market Overview
10th April, 2018
MARKETS AT Noon:-
- Indian rupee remained higher against the dollar in thin afternoon trade, tracking improved global risk appetite after Chinese President Xi Jinping’s speech eased concerns over a full-blown trade war between the U.S. and China.
- The Rupee was last seen at 64.95 to a dollar at, against 65.0175 at previous close. It opened higher at 64.87 and has remained in 11-paisa band so far. Most Asian currencies were trading higher against the greenback.
- Benchmark indices continued to trade higher in afternoon, with the Sensex rising 167.82 points to 33,797.79, driven by banks (barring ICICI Bank), oil and FMCG stocks.
- The 50-share NSE Nifty rose 50.40 points to 10,382.00. About 1,565 shares advanced against 972 declining shares on the BSE.
- European markets are higher today with shares in Germany leading the region. The DAX is up 0.96% while France’s CAC 40 is up 0.71% and London’s FTSE 100 is up 0.35%.
- Asian markets finished broadly higher today with shares in China leading the region. The Shanghai Composite is up 1.66% while Hong Kong’s Hang Seng is up 1.65% and Japan’s Nikkei 225 is up 0.54%.
- The dollar index, which measures the greenback against a basket of six major rivals, slipped 0.3% overnight, closing at a near two-week low amid reports of a Federal Bureau of Investigation raid on the offices of Trump’s long-time personal attorney Michael Cohen. The index was last trading little changed.
- Meanwhile, the euro rose 0.3% against the greenback yesterday in reaction to European Central Bank President Mario Draghi’s comments yesterday that stock market weakness this year has not had any material impact on Eurozone’s financial conditions, indicating policymakers were cool about the recent market volatility. The common currency was last trading flat.