World Markets
02 August 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar holds near one-month low as investors eye U.S. jobs, RBA
- Japan’s Nikkei 225 jumps nearly 2%; Chinese factory activity growth in July slows
- Oil prices slide on worries over China economy and higher crude output
Currency
The dollar held just above a one-month low on Monday as traders held tight positions heading into a busy week that includes monthly U.S. jobs data and a key Australian central bank decision.
The dollar index, which measures the greenback against six major peers, stood at 92.091, almost unchanged from Friday, when it dipped as low as 91.775 for the first time since June 28.
The dollar was little changed at 109.64 yen on Monday, and mostly flat at $1.18685 per euro. Sterling was also little changed at $1.39005, with a policy announcement by the Bank of England due on Thursday. The Aussie dollar was largely steady at $0.73475, before the Reserve Bank of Australia meets on Tuesday, when it is widely expected to backtrack on a previous decision to taper stimulus, with protracted COVID-19 lockdowns dragging on growth.
Equity
Shares in Asia-Pacific were mixed in Monday morning trade, as data showed Chinese manufacturing activity growth slowed in July. Oil prices, meanwhile, fell over 1%.
In Japan, the Nikkei 225 jumped 1.58% in morning trade while the Topix index gained 1.74%. The S&P/ASX 200 in Australia also saw robust gains as it climbed 1.4%. South Korea’s Kospi advanced around 0.1%. Hong Kong’s Hang Seng index was 0.43% lower while mainland Chinese stocks lagged, with the Shanghai composite down 0.71% and the Shenzhen component dipping 0.227%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.09% lower.
Oil
Oil prices fell by more than $1 on Monday on worries over China’s economy after a survey showed growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC producers.
Brent crude oil futures skidded $1.12, or 1.5%, to $74.29 a barrel while U.S. West Texas Intermediate (WTI) crude futures dropped 97 cents, or 1.3%, to $72.98 a barrel after slipping to a session low of $72.87.
Business News Headlines
Economic Times
Ø Maruti, Hyundai and Tata Motors post double-digit sales growth in July
Ø Hindalco to invest Rs 8,000-10,000 cr in Hirakud, Silvassa & Mundra plants
Ø Biological E to break into big league by manufacturing 3 Covid vaccines
Ø India’s appeal against Vodafone award in senior court, hearing in Sept
Ø Government can exempt any listed PSU from minimum public holding
Ø IRB Infrastructure Developers completes Rs 381.63 crore fundraising
Ø IDFC First Bank posts Rs 630-cr loss in Q1 on pandemic provisions
Ø IPOs raise over Rs 27,000 cr in Apr-Jul; issues worth Rs 70K cr in pipeline
Ø Leading auto makers post double-digit sales growth in July
Ø Gautam Adani incorporates new petrochemicals subsidiary
Ø India’s crude steel output up 21.4% at 9.4 MT in June: Worldsteel
Business Standard
Ø India’s 5G space booming with global, domestic players pitching in
Ø Maruti Suzuki reports 50% increase in July sales at 1,62,462 units
Ø Export fetters by China, Russia spell good news for Indian steelmakers
Ø India’s fuel demand picks up in July, petrol consumption at pre-Covid level
Ø July GST revenue at over Rs 1.16 trn; govt says it marks economic recovery
Ø India’s power consumption back to pre-Covid level in July; up nearly 12%
Ø Tata Motors looking at measures to offset impact of semiconductor shortage
Ø Videocon’s Venugopal Dhoot moves NCLAT against Deloitte, CoC and Vedanta
Ø Hitachi ‘reimagining’ India as global hub for new age tech solutions
Ø FPIs pull out net investments worth Rs 11,308 cr from equities in July
Financial Express
Ø RBI likely to maintain status quo on interest rate
Ø Fino Payments Bank files documents with Sebi for IPO
Ø PSU banks mobilise record fund of Rs 58,700 crore from markets in FY21
Ø PLI for specialty steel: Govt expects robust response from large firms
Ø Logistics MSMEs must make a one-time tech investment
Ø Rolex Rings IPO subscribed 130.44 times on last day
Ø Sebi gives more time to brokers, clearing members to comply with certain rules
Ø IPO market nears peak as valuations hit 20-year high
Mint
Ø Passenger vehicle dispatches improve in July as curbs eased
Ø India’s crude steel output up 21.4% at 9.4 MT in June: Worldsteel
Ø Deals sizes of Happiest Minds’ infrastructure and security biz surge
Ø Vedanta’s Sterlite Power hires JM Financial and Axis Capital for IPO
Ø Torrent Power firming up electricity play
Ø HPCL goes all out to help India’s green push
Ø Retail, agri segments drive credit growth in June: Care Ratin
Ø Adani Enterprises incorporates new petrochemicals subsidiary
Ø IDFC First Bank Q1 results: Covid provisioning leads to ₹630 cr net loss
Ø S&P revises Adani Electricity Mumbai’s outlook to negative
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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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