Financial Market Overview
01st January, 2018
MARKETS AT OPEN:-
· Pair to tip in rangUSD/INR opens lower on first trading day of 2018 amid interbank dollar offers in quiet holiday-thinned trading. Pair now at 63.82 against 63.87 previous close.e between 63.75-63.95 today.
· The Sensex is up 11.14 points at 34067.97, while the Nifty was down 11.40 points or 0.11% at 10519.30. The market breadth was positive as 576 shares advanced against a decline of 178 shares, while 2,878 shares were unchanged
· State Bank of India (SBI), L&T, Hero MotoCorp and GAIL were the top gainers, while HUL, Wipro and Infosys were the top losers.
· North Korea’s leader Kim Jong Un earlier today warns US he has nuclear button on desk ready for use if its security is threatened.
· Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.33% and the Hang Seng rose 0.19%. The Nikkei 225 lost 0.08%.
· North and South American markets finished mixed as of the most recent closing prices. The IPC gained 1.01% and the Bovespa rose 0.43%. The S&P 500 lost 0.52%.
· European markets finished mixed as of the most recent closing prices. The FTSE 100 gained 0.85%, while the CAC 40 led the DAX lower. They fell 0.50% and 0.48%
· U.S. stocks are expected to keep rising in 2018 because a massive drop in the corporate tax rate is seen boosting the economy and corporate profits.