World Markets

World Markets

13 September 2021

World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.

  • Dollar finds footing as traders await inflation data
  • Asia makes watchful start, Nikkei nears 30-year high
  • Oil climbs to one-week high on U.S. supply concerns

World MarketsCurrency

The dollar began a week full of big economic data on a firm footing, with investors wary of the Federal Reserve beginning its exit from super-supportive policy even as cases of the coronavirus surge.

It maintained gains early in the Asia session to hold the common Euro  currency at $1.1810. It was also steady at 109.91 Japanese yen. In morning trade, the Aussie was marginally firmer at $0.7362, but it has struggled to stay above $0.74. The kiwi was marginally weaker at $0.7115 but has likewise battled to break out of a months-long range despite the Reserve Bank of New Zealand preparing for interest rate hikes.

Equity

Asian shares made a guarded start on Monday to a week packed with important U.S. and Chinese economic data and the launch of Apple’s latest iPhones, while the Nikkei was tantalisingly near heights last visited in 1990.

Japanese shares have been on a tear as hopes for fresh stimulus from a new Prime Minister saw the Nikkei surge 4.3% last week. The Topix has already scaled that peak, while the Nikkei turned hesitant early on Monday. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1%, after bouncing on Friday.

Oil

Oil prices climbed on Monday to a one-week high in a second straight session of gains as concerns over U.S. supplies following damage from Hurricane Ida supported the market, along with expectations for higher demand.

Brent crude rose 48 cents, or 0.7% to $73.40 a barrel, and U.S. West Texas Intermediate (WTI) crude also added 49 cents, or 0.7%, to $70.21 a barrel. Both markets were at their highest since Sept. 3 earlier in the session.

Business News Headlines

Economic Times

Ø FM Sitharaman says many PSBs have come back to normalcy now
Ø Govt appoints 31 members at NCLT, ITAT
Ø Tata Power, Adani told to submit revised bids for UP Transco
Ø The RSS-Infy fiasco is making some doubt the virtues of honest business
Ø Drug makers Granules India, Jubilant Cadista recall products in US market
Ø Zomato scraps grocery deliveries for the second time
Ø Income Tax refunds worth Rs 70,120 crore issued between April 1 and September 6
Ø Vaccination is the medicine to boost economy: Nirmala Sitharaman
Ø Indian IT struggles to get experienced hands amid tech boom
Ø Unitholders of Franklin’s six shut debt schemes to get Rs 2,918 crore
Ø FPIs pump in Rs 7,605 cr so far during Sept

Business Standard

Ø Small- and mid-caps set to top asset class league after a gap of five years
Ø Sebi notifies certification requirements for distributors, staff of PMS
Ø Manyavar owner Vedant Fashions files IPO with Sebi to raise funds
Ø Investors turn positive for Gold ETFs in Aug on positive global outlook
Ø T+1 cycle may reduce margin requirement, boost investment: Experts
Ø CPPIB sells 2.3% stake in SBI Life Insurance Company
Ø Demand recovery in durables, growth expectations drive rally in Voltas
Ø Cathie Wood’s fintech ETF sells HDFC Bank for first time since May
Ø Despite chip shortage, automakers expect better festive season
Ø Moody’s assigns B1(hyb) rating to Axis Bank’s proposed AT-I capital bonds
Ø Buy growth, value stocks for equity portfolio to beat inflation: Chris Wood

Financial Express

Ø Eleven firms debuted at discount since January after raising funds via IPO
Ø Kharif: Dry weather seen dragging down cotton, groundnut output
Ø Snapdeal assessing IPO route: Sources
Ø IIP growth: India’s index of industrial production grows 11.5% in July
Ø High shipping costs: Scheme to aid farm exporters back & fortified
Ø Ami Organics IPO subscribed 64.54 times on closing day
Ø Godrej Consumer Products expects double-digit growth in FY’22
Ø CNG price may rise 10-11% in October
Ø Financial bids for BPCL after September
Ø NTPC Darlipali Thermal Power Station’s Unit 2 to start commercial operation from Sep 1
Ø Domestic natural gas prices seen rising to $3.15/mBtu in October

Mint

Ø Refiners to get 4.3 mn barrels from strategic reserves by Dec
Ø ONGC’s long hunt for another Bombay High
Ø HDFC rides the coat tails of the real estate recovery
Ø Coal India’s volume growth offers hope, but sustainability holds key
Ø Varun Beverages set to gain from robust growth outlook
Ø HDFC Life’s buyout of Exide Life is promising beyond near-term pinch
Ø Oil India’s efforts to pare debt help boost investor sentiment
Ø Chip shortage drives tech companies and car makers closer
Ø Zomato shelves consumer e-grocery plans
Ø PNB appoints Rekha Jain as shareholder director, Asha Bhandarker steps down
Ø India’s space-tech startups steering a rough ride
Ø Moody’s revises JSW Steel’s outlook to positive from stable


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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.

 

Sources

https://www.reuters.com/

https://in.investing.com/