World Markets
29 June 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar bides time below two-month highs before payrolls test
- Asia-Pacific markets slip despite record high close for S&P 500
- Oil falls as flare-ups of COVID-19 variant threaten fuel demand
Currency
The dollar hovered below a two-month high versus major counterparts on Tuesday, with traders largely sidelined ahead of a closely watched U.S. jobs report, which could sway the timing of an exit from Federal Reserve stimulus.
The dollar index, which tracks the greenback against a basket of six major currencies, was at 91.884 early in the Asian session after retreating from as high as 92.408 on June 18, in the week the Federal Open Market Committee shocked markets by predicting two interest rate hikes by end-2023.
The dollar bought 110.620 yen, hanging below a nearly 13-month high of 111.110 reached last week. The euro was at $1.19210, edging back toward the 2-1/2-month low of $1.8470 touched on June 18.
Equity
Shares in Asia-Pacific fell in Tuesday morning trade despite gains overnight on Wall Street that saw the S&P 500 and Nasdaq Composite touching fresh record closing highs.
The Nikkei 225 fell 1.03% in early trade while the Topix index shed 1.11%. South Korea’s Kospi also declined 0.17%. In Australia, the S&P/ASX 200 dipped 0.31%.
The S&P 500 gained 0.23% overnight stateside to a fresh record closing high of 4,290.61. Nasdaq Composite on Wall Street rose 0.98% to a record closing high of 14,500.51. The Dow Jones Industrial Average lagged, falling 150.57 points to 34,283.27.
Oil
Oil prices slipped for a second day on Tuesday on worries about slower fuel demand growth as outbreaks of the highly contagious COVID-19 variant Delta sparked new mobility restrictions around the world.
U.S. West Texas Intermediate (WTI) crude futures fell 14 cents, or 0.2%, to $72.77 a barrel extending a 1.5% loss on Monday. Brent crude futures dipped 10 cents, or 0.1%, to $74.58 a barrel, after sliding 2% on Monday.
Business News Headlines
Economic Times
Ø ICRA upgrades Godrej Consumer long-term rating
Ø Airtel adds more spectrum in UP East to boost network capacity, data speed
Ø Emami increases stake in Helios Lifestyle to 45% with all cash deal
Ø Accenture attrition rises to 17% as demand for services grows
Ø UK’s Standard Life to sell 3.46% stake in HDFC Life Insurance on Tuesday
Ø Piramal Enterprises to raise up to Rs 1,000 cr via NCDs
Ø PharmEasy buyout puts Thyrocare in a different league: Analysts
Ø Reliance’s green accent likely to attract ESG funds, lift valuations
Ø CSB Bank tightens gold loan policy after NPAs
Ø Tamilnadu Petroproducts’ profit more than doubles in FY21
Ø Exxaro Tiles gets Sebi approval to float IPO
Business Standard
Ø SpiceJet plans to raise funds through equity
Ø Central Coalfields awards Rs 9,294 crore mining project to Power mech projects
Ø Bharti AXA Life premium income rises 4.3% to Rs 2,281 crore in FY21
Ø Aiming to keep power cost lowest in country: Prashant Jain of JSW Energy
Ø Piramal Enterprises to raise up to Rs 1,000 cr through debentures
Financial Express
Ø Indian cars/bikes to get ethanol-run flex engines soon, confirms Nitin Gadkari
Ø Countering Drones: Cost is the most important factor, says expert
Ø SEBI order on Franklin Templeton to refund Rs 512 crore stayed by SAT
Ø Skanray Technologies files IPO papers with Sebi
Mint
Ø RBI announces new outsourcing policy for cooperative banks
Ø Our relief plan ought to aim directly at demand
Ø Sebi temporarily halts GoFirst IPO due to pending enquiry against Bombay Dyeing
Ø ₹1.75 lakh crore disinvestment target on track: CEA K Subramanian
Ø Tourism industry seeks grants as FM announces loan guarantee scheme for sector
Ø Ventilator maker Skanray Technologies files for IPO
Business Line
Ø More mills look to export rice to China
Ø Increasing ECGC cover will benefit the sector: Exporters
Ø Whirlpool sees pent up demand fuelling double-digit growth
Ø Tata Motors bets big on EV space.
Economic Events
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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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