Financial Market Overview
5th March, 2019
- The Indian rupee remained higher against the dollar in afternoon trade, as foreign banks sold the greenback amid dollar inflows into local debt market, while bunched-up inflows after a long weekend also boosted sentiment.
- The rupee changed hands at 70.78 to a dollar against 70.9050 at previous close. The currency opened little changed and has so far moved in 70.7350-70.97 to dollar band today.
- Indian shares were trading higher in afternoon though investors stayed away from making big bets, after U.S. President Donald Trump said he plans to scrap preferential trade treatment for India.
- The broader NSE index was up 0.56% at 10,923.90, while the benchmark BSE index was 0.48% higher at 36,237.54.
- Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.88%, while Japan’s Nikkei 225 was off 0.44%. Shares in Hong Kong were unchanged.
- European markets are mixed to lower. Shares in Germany are off as the DAX drops 0.06%. The CAC 40 is unchanged while the FTSE 100 in London is up 0.12%.
- The dollar index traded near a two-week high of 96.78, adding to overnight gains and 10-year Treasury yield was trading at 2.73% after rising as much as to 2.77% yesterday.
- The weakness in euro ahead of European Central Bank policy meeting on Mar. 7 also underpinned gains in the index.
- The benchmark Brent crude oil contract traded above $65-per-barrel mark today amid output cuts by producer club OPEC. It was last trading at $65.58 after an overnight jump of 0.9%.