Financial Market Overview
19th December, 2017
MARKETS AT Noon:-
- The Indian rupee remained higher against the dollar in afternoon trade, as foreign lenders sold a generally weak greenback and as investors remained cautious about the overall impact of the U.S. tax reforms on the world’s largest economy. However, sporadic dollar purchases by oil and other importers limited the rupee’s gains.
- The rupee was last seen at 64.0425 to a dollar, against 64.24 at close in the previous session. The currency had opened at 64.22 to a dollar, extending gains to 63.9450. Most other Asian currencies were trading flat to higher against the dollar.
- A U.S.-based bank along with a European lender has been on offers, apparently for overseas investors investing in domestic companies’ share sales, “However, these flows are matched by importers’ demand at intervals, limiting the gains in the rupee.”
- Benchmark indices were marginally off the day’s high points, but the Nifty continued o trade above 10,400.
- The Sensex was up 136.11 points or 0.22% at 33675.36, while the Nifty was up 23.80 points or 0.23% at 10412.60. The market breadth was positive as 1756 shares advanced against a decline of 713 shares, while 138 shares are unchanged.
- European markets are mixed today. The FTSE 100 is up 0.23% while the DAX gains 0.17%. The CAC 40 is off 0.02%.
- Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.88% and the Hang Seng rose 0.70%. The Nikkei 225 lost 0.15%.
- German business confidence fell unexpectedly in December after hitting an all-time high in the previous month, a survey showed on Tuesday, suggesting that business leaders in Europe’s largest economy have become less optimistic about their outlook.
- The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, edged down to 117.2 from an upwardly revised reading of 117.6 in November which was the highest on record. The December reading came in lower than a consensus forecast for a value of 117.5
- The German government plans to borrow more money on capital markets in 2018 than this year because it will have to pay back more old debt than it repaid in 2017, the Finance Ministry’s debt agency said on Tuesday.