Financial Market Overview
1st January, 2019
- The Indian rupee remained higher against the dollar in afternoon trade on lower-than-average daily volume, helped by the greenback’s decline against major currencies on the last day of 2018.
- The rupee changed hands at 69.68 to a dollar, against 69.77 at close yesterday. The currency opened at 69.62, its highest since Nov. 30. It has so far traded in a range of 12 paise.
- Indian shares began the year on a negative note on Tuesday as investors stayed away from making bets, with the corporate earnings season slated to begin next week.
- The broader NSE index was down 0.31% at 10,829.15 and the benchmark BSE index was also 0.31% lower at 35,957.16.
- Asian markets are closed today.
- European markets are also closed today.
- The dollar index fell for the third straight session yesterday to close at its lowest since Nov. 19. The index’s losses came amid a decline in the 10-year U.S. yield to its lowest in 10 months, which lifted the Japanese yen above 110.00 to the dollar.
- Long-term Treasury yields and shape of the yield curve will continue to remain the focus of attention for investors amid growth slowdown fears. The 10-year U.S. yield ended at 2.69% yesterday and its yield differential with the 2-year yield was at 20 basis points.
- With almost all major markets shut today for the New Year holiday, volumes were on the lower side.