World Markets
30 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar near one-month low, set for worst weekly showing since May
- Asian shares down, set for worst month since March 2020
- Oil Settles up as US supply tightens more
Currency
The dollar languished near a one-month low on Friday and was poised for its worst weekly performance since May as dovish remarks by the U.S. Federal Reserve together with underwhelming economic data took the steam out of a month-long rally.
The dollar index, which measures the greenback against a basket of six other currencies, was last at 91.91 after going as low as 91.855 on Thursday, a level not seen since June 29.
The dollar held near a two-week low against the safe haven Japanese yen at 109.45. The euro climbed to a one-month high against the dollar to be last at $1.1886 ahead of preliminary second quarter gross domestic product data for France, Germany, Italy and the euro area as well as preliminary July CPI prints for France, Italy and the euro area.
Equity
Asian shares slipped on Friday, with a gauge of regional equities set for its biggest monthly drop since the height of global pandemic lockdowns last March, while the dollar lagged near one-month lows on expectations of continued Fed stimulus.
On Friday, MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.84%, taking its losses for the week to more than 6.5%. Japan’s Nikkei dipped 1.71%, set for an 11th straight month of falls on the last trading day in the month. Chinese blue-chips fell 0.96%, and Hong Kong’s Hang Seng fell 1.27%, with tech stocks once again dragging. The Hang Seng Tech index deepened its losses for the week to more than 17%. Seoul’s Kospi was last down 0.94% on the day.
Oil
Oil prices rose on Friday, with global benchmark Brent topping $76 a barrel, as supplies in the United States tightened further after shrinking to the smallest levels since January 2020.
Brent crude oil futures settled up $1.31 a barrel, or 1.75% at $76.05 a barrel. U.S. West Texas Intermediate (WTI) crude oil futures settled up $1.23, or 1.7% at $73.62 a barrel.
Business News Headlines
Economic Times
Ø JSW Steel plans to raise $200-300 million via offshore loan
Ø Airtel, Vodafone Idea set to raise prices by close to 30% in bid to improve ARPU
Ø UTI AMC appoints Vetri Subramaniam as CIO; Ajay Tyagi elevated as head of equity
Ø Sundaram Home Finance seeks to raise Rs 2,500 cr to fund growth plans
Ø Nykaa, Policybazaar to file papers to raise Rs 11,000 crore via IPOs
Ø Textile cos rally as Street bets on gains from US-China tiff
Ø NSE-BSE bulk deals: PGIM India MF buys stake in Anup Engineering
Ø Airtel Africa Q1 results: Profit zooms to $142 mn amid all-round growth
Ø Billionaire investor Rakesh Jhunjhunwala plans 70 planes for new airline
Ø ArcelorMittal to invest $10 billion to cut global carbon emissions by 25% by 2030
Ø JSW Energy in agreement with Australian firm for Green Hydrogen
Business Standard
Ø Public sector lender Union Bank registers 255% growth in profit
Ø Demand for freshers to go up 7% points in current quarter: Teamlease
Ø Airtel loses 4.6 mn mobile subscribers in May, Jio adds 3.5 mn users: Trai
Ø Back to old normal: Robust demand propels metals to pre-Covid levels
Ø Tata Power tops Crisil ESG scores for power companies in India
Ø Embassy Office Parks REIT expects demand to bounce back in early FY22
Ø Tata Sons subsidiary to buy 43.3% stake in Tejas Networks for Rs 1,850 cr
Ø Govt permits 100% FDI in oil & gas PSUs approved for disinvestment
Ø Indian traders sign sugar export deals in advance as frost hits Brazil
Ø Tata Teleservices, Zoom partner for unified communication solutions
Financial Express
Ø IPO market nears peak as valuations hit 20-year high
Ø Sebi imposes Rs 10-lakh fine on Karvy Financial Services for not making open offer timely
Ø India’s gold demand up 19 per cent in April-June quarter at 76 tonne: WGC
Ø Basic customs duty removed, agri infra cess halved on lentils
Ø Sebi mulls IPO reforms on book building, price band aspects
Ø ICICI Prudential rating – Buy: Big beat on margins the highlight of Q1
Ø Sebi to RTAs: Develop inter-operable platform to enhance investor experience in MFs
Ø Tea Board order for mandatory sale through auction will be counterproductive: UPASI
Mint
Ø LIC Housing Finance’s provisions look inadequate amid rising stress
Ø Mahanagar Gas delivers big on profits despite low volumes
Ø Tech Mahindra’s stellar Q1 show will help pare valuation gap with peers
Ø Tata Motors launches Ace Gold Petrol CX starting at ₹3.99 lakh
Ø IFC picks up 4.99% stake in Federal Bank for Rs916 crore
Ø Future-RIL deal: Will decide if Emergency Arbitrator award valid, says SC
Ø Zydus Cadila submits additional d voata on its Covid vaccine to DCGI: Report
Ø Sebi says valuation must for all preferential allotment plans
Ø Bajaj Auto exports its way out of a slump
Ø Customers to get deposit insurance in 90 days of bank failure
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Disclaimer : All information in this report is collected from various sites on internet. Although we have taken all precautions for correct representation of data however we do not take any responsibility for any errors and omissions. The technical analysis and views expressed is authors own views. We are not responsible for any losses on account of following the same.
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