Financial Market Overview
13th November, 2018
- The Indian rupee stayed higher against the dollar in afternoon trade as crude oil prices remained lower, while reports of U.S.- China trade negotiations aided fragile risk sentiments.
- The rupee changed hands at 72.62 to a dollar, against 72.89 at close yesterday. The currency opened at 72.79 per dollar. It then fell to an intraday low of 72.8050 before rising to the day’s high of 72.52.
- Indian shares edged higher as gains in oil marketers and an upbeat sentiment over a strong set of inflation data helped cap losses in financials and healthcare stocks.
- The broader NSE index was up 0.32% at 10,516.15, while the benchmark BSE index was 0.28% higher at 34,910.00.
- Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.93% and the Hang Seng rose 0.46%. The Nikkei 225 lost 2.06%.
- European shares are trading higher today. The FTSE 100 gained 0.17%, CAC gained 0.37% and the DAX was 0.50% up.
- Brent crude oil price fell to a seven-month low of $68.87 per barrel yesterday, coming off its high of $71.88, after U.S. President Donald Trump’s comments that Saudi Arabia and the OPEC will hopefully not be cutting production prompted a pullback. The Middle East nation’s pledge to cut supply next month had pushed prices higher above $71. It was last trading down 0.83% at $69.54.
- The dollar index traded steady at 97.56 after rising to a 16-month high overnight, on risk-off bets and drop in euro and sterling on fears of a no-deal Brexit. The single currency traded 0.2% higher, recovering from over 1% fall in an overnight trade and pound sterling rose 0.1% after dropping nearly 1%.
- The Chinese yuan was heading for its first session of gains in four days and was last trading 0.1% higher.