Financial Market Overview
17th May, 2018
MARKETS AT Noon:-
- Indian rupee was trading little changed against the dollar in afternoon trade, mostly tracking other Asian peers that pared early gains to trade lower. Concerns around impact from higher global crude oil prices and dollar purchases by foreign and state-run banks, likely for their importer clients also kept up pressure on the local currency..
- The rupee was last seen at 67.72 to a dollar, against 67.79 at previous close. It rose as much as 67.58 a dollar earlier today tracking an overnight sell-off in the greenback.
- Indian shares slipped on Thursday, hurt by financials, while doubts whether the Bharatiya Janata Party (BJP) could prove its majority in the southern state of Karnataka weighed on investor sentiment.
- The broader NSE index was down 0.30 percent at 10,709.05 , while the benchmark BSE index was 0.32 percent lower at 35,273.04.
- Asian markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.53%, while the Shanghai Composite led the Hang Seng lower. They fell 0.48% and 0.26% respectively.
- European markets are mixed today. The CAC 40 is up 0.27% while the FTSE 100 gains 0.10%. The DAX is off 0.03%.
- The dollar index was trading flattish, after rising 0.19% in overnight trade. Ten-year U.S. yields had climbed to fresh seven-year highs in yesterday’s session, up for the third straight day.
- The euro fell to near 1.18 versus the dollar amid political developments in Italy, where populist parties are jostling to forge a common platform in a bid to lead the next administration. Citing Huffington Post Italia, Reuters reported that the anti-establishment 5-Star Movement and far-right League plan to ask the European Central Bank to forgive 250 billion euros ($296 billion) of Italian debt, according to a draft of a coalition programme the parties are working on.