06th July, 2018
MARKETS AT Noon:-
- Indian rupee was little changed against the dollar in afternoon trade, as caution after imposition of U.S. tariffs on Chinese goods kept the yuan lower, offsetting gains from banks’ greenback sales for bunched-up inflows and exporter clients.
- The rupee was last seen at 68.92 to a dollar, against 68.95 yesterday, also a record closing-low. It opened at 68.88 and briefly slipped to 69.0250 levels, lowest since Jun. 28, but recouped losses on apparent intervention by the Reserve Bank of India. However, for the week, the rupee was heading for its secondly weekly decline.
- The benchmark indices are continue to trade higher in the afternoon session with the help of auto, PSU bank and energy index, which are trading with over 1 percent gain.
- The Sensex gained,128.84 points at 35,703.39 and the Nifty rose 36.40 points to 10,786
- Asian markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 1.12% while China’s Shanghai Composite is up 0.49% and Hong Kong’s Hang Seng is up 0.47%.
- European markets are mixed today. The CAC 40 is up 0.31% while the FTSE 100 gains 0.13%. The DAX is off 0.03%.
- Other Asian currencies were trading flat to higher against the dollar. However, the onshore yuan was trading 0.3% lower at 6.6523 against the dollar as U.S. tariffs come into effect today, increasing concerns that China may retaliate..
- The dollar index, measured against a basket of currencies, was last trading down 0.2%, extending almost similar losses posted in an overnight trade, as U.S. tariffs on Chinese goods kicks in.
- Investors now await U.S. non-farm payroll report, due later today. A poll forecast U.S. employers to add 195,000 jobs in June against 223,000 in May and the monthly average hourly earnings likely show an increase of 0.3%, which would lif t the annual rise to 2.8% from 2.7% in May.