World Markets
14 May 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar rally pauses as investors take stock of inflation anxiety
- Asian Shares jumps after overnight rebound in US stocks after sharp loss in previous session
- Oil extends loss on India COVID-19 cases, U.S. pipeline restart
Currency
The dollar took a breather on Friday but looks set to post weekly gains against a basket of currencies as investors try to assess the risk of U.S. inflation rising faster than expected and prodding the Federal Reserve to hike interest rates sooner.
In early Friday trade, the dollar index paused at 90.752, sitting on a gain of 0.5% so far this week and keeping some distance from its 2-1/2-month low of 89.979 set on Tuesday. Against the yen, the dollar stood at 109.50 yen, off Thursday’s one-month high of 109.785. The euro was fetching $1.2076, holding above Thursday’s low of $1.20515 while the British pound changed hands at $1.4047.
Equity
Stocks in Asia-Pacific rose Friday morning, following an overnight bounce for stocks stateside. In Japan, the Nikkei 225 jumped 1.43% in morning trade — partially recovering from the more than 2% plunge seen on Thursday. The Topix index gained 1.24%. South Korea’s Kospi advanced 0.78%. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.74% higher.
Mainland Chinese stocks were higher in early trade, with the Shanghai composite rising 0.3% and Shenzhen component edging 0.355% higher. The Dow Jones Industrial Average surged more than 400 points overnight as stocks stateside rebounded from sharp losses in the previous session.
Oil
Oil prices fell on Friday after dropping about 3% a day earlier as coronavirus cases remained high in major oil consumer India and as a key fuel pipeline in the United States resumed operations after being shut due to a cyber attack.
Brent crude oil futures were down 35 cents, or 0.5%, at $66.70 a barrel , while West Texas Intermediate (WTI) was down 28 cents, or 0.4%, at $63.54 a barrel.
Financial News
Business Standard
Ø RBI tells lenders to re-consider ties with crypto exchanges, traders
Ø Govt eases public procurement norms for Covid supplies
Ø Commerce Ministry seeks anti-dumping duty on certain rubber imported from 4 countries
Ø Tata Sons, Singapore Airlines invest Rs 465 crore in Vistara
Ø RBI cancels United Co-operative Bank’s licence
Ø Auto retailers’ lobby writes to FM, RBI governor to request loan moratorium
Business Line
Ø India received $83 billion in remittances in 2020: World Bank report
Ø Torrent Pharma inks pact with Eli Lilly for Covid drug Baricitinib in India
Ø South Korea unveils $450 billion push for global chipmaking crown
Ø Musk decries bitcoin’s ‘insane’ energy use after Tesla payment U-turn
Ø Vedanta swings into the black; posts Rs 6,531 cr profit in March quarter
Mint
Ø TRAI floats consultation paper on validity period of tariff offers
Ø Overall passenger traffic plunges 66% in FY21, AAI data shows
Ø CRISIL assigns A+/Stable rating to long-term credit facilities of Jindal Stainless
Ø PE/VC investments grow 6.5x to $7.5 billion in April over year-ago period
Ø Lupin Q4 net rises 18% at ₹460 cr
Financial Express
Ø Piramal Enterprises Q4 net loss narrowed to ₹510 crore
Ø BSE clocks Q4 net profit of ₹31.75 crore; revenue up 27 per cent
Ø Blue Dart forms Med-Express consortium to conduct experimental drone flights
Ø Bitcoin still struggling after Musk’s Tesla U-turn
Ø Jack Ma’s Ant posted $3.4 billion profit after IPO halt
Ø CPPIB and SoftBank’s SB Energy deal called off
Business World
Ø India’s prized ‘investment grade’ status hanging by a thread due to devastating COVID-19 crisis
Ø Jio tops in 4G download speed, Vodafone in upload in April: Trai
Ø FPIs’ Investment In Domestic Equity Surges 7 Pc To USD 552 Bn In Mar Qtr
Ø Intense Bidding For KG-D6 Gas In E-Auction On DGH-Approved Platform
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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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