Financial Market Overview
06th April, 2018
MARKETS AT OPEN:-
- Rupee turns lower amid renewed US-China trade worries. Pair USDINR now at 65.02, off early lows of 64.93 and against 64.97 previous close.
- Pair to tip in range between 64.90-65.10.
- Benchmark indices started off last day of the week on a flat note, following tepid Asian cues.
- The 30-share BSE Sensex was down 7.48 points at 33,589.32 and the 50-share NSE Nifty fell 8.20 points to 10,317.
- Asian markets are mixed today. The Hong Kong’s Hnag Seng is up 1.20% the Australian ASX200 lost 0.06% while the Shanghai Composite is trading lower by 0.18%.
- European markets closed sharply higher on Thursday with shares in Germany leading the region. The DAX is up 2.90% while France’s CAC 40 is up 2.62% and London’s FTSE 100 is up 2.35%.
- The Dow and S&P 500 posted gains for a third day in a row on Thursday, the longest streak in about a month, as investors’ worries of an escalating trade conflict between the United States and China eased and their focus on upcoming earnings grew. The Dow Jones Industrial Average rose 240.85 points, or 0.99 percent, to 24,505.15, the S&P 500 gained 18.14 points, or 0.69 percent, to 2,662.83 and the Nasdaq Composite added 34.45 points, or 0.49 percent, to 7,076.55.
- Trump advocated additional tariffs of up to $100 billion on China, refueling worries that the two nations could be headed towards a full-fledged trade war.
- The U.S. non-farm payroll data is due for release later in the day. U.S. employers likely added 193,000 jobs last month, according to a poll. In addition to the headline number, traders will be looking at the average wage growth, which is expected to rise by 0.2% month-on-month.