Jun 18 2018

Rupee steady as slump in crude offset early losses

Financial Market Overview

18th June, 2018

Noon Update:-                                                                                  

MARKETS AT Noon:-

Rupee:-

  • The Indian rupee was at 68.04per dollar, against its previous close of 68.01, as a slump in global crude oil prices offset early losses following weak risk appetite amid rising trade tensions between the U.S. and China.
  • The currency opened at 68.16, its lowest since May 25 as Trade Deficit widened to $ 14.62 Billion.

Indian Equities:-

  • The broader indices are trading on negative note this Monday afternoon with the Nifty down 9 points at 10,808 and the Sensex is trading lower by 32 points at 35,589.
  • Nifty midcap was trading lower but individual stocks are buzzing with Bata India up 3 percent followed by HPCL, JP Associates and Mcleod Russel India.

Global Markets:-

  • Asian markets finished lower today with shares in Japan leading the region. The Nikkei 225 is down 0.75% while China’s Shanghai Composite is off 0.70% and Hong Kong’s Hang Seng is lower by 0.43%.
  • European markets are lower today with shares in France off the most. The CAC 40 is down 0.68% while Germany’s DAX is off 0.66% and London’s FTSE 100 is lower by 0.11%.
  • The euro fell back towards three-week lows on Monday as the escalating threat of a global trade war and a dispute in Germany’s governing coalition weighed on the single currency.After suffering a big fall last week when the European Central Bank struck a dovish tone, the euro was pinned lower again on Monday, trading down 0.3 percent at $1.1576 and not far from its recent lows of $1.1543.
  • The yen strengthened slightly versus the dollar after data showing a big rise in Japanese exports and amid the trade tensions.