World Markets
16 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar on course for weekly gain; kiwi leaps with inflation
- Asia-Pacific stocks mostly fall; Bank of Japan rate decision ahead
- Oil falls a third day as supply worries mount
Currency
The dollar headed on Friday for its best weekly gain in about a month, supported by buying on investor worries about quicker U.S. interest rate increases and by rising virus infections, while a hot inflation reading lifted the New Zealand dollar.
The U.S. dollar index, which measures the greenback against a basket of currencies, was flat at 92.604 on Friday and up 0.5% for the week. The yen last bought 109.98 per dollar and 129.86 per euro. The euro stood at $1.1808, not far above the three-month low of $1.1772 it tested during the week. Sterling traded at $1.3832 early in the Asia session.
Equity
Shares in Asia-Pacific mostly fell in Friday morning trade as investors await the Bank of Japan’s monetary policy statement.
The Nikkei 225 in Japan fell 0.84% in morning trade while the Topix index slipped fractionally. South Korea’s Kospi declined 0.52%.
In mainland China, the Shanghai composite dipped 0.15% while the Shenzhen component shed 0.589%. The Hang Seng index in Hong Kong advanced 0.16%. Australia’s S&P/ASX 200 edged about 0.1% lower. MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.32% lower.
Overnight stateside, the S&P 500 shed 0.33% to 4,360.03 while the Nasdaq Composite dipped 0.7% to 14,543.13. The Dow Jones Industrial Average advanced 53.79 points to 34,987.02.
Oil
Oil prices fell a third day on Friday as supply concerns continued to haunt the market, with OPEC likely to add more barrels amid expectations that demand is returning as more countries recover from the pandemic.
Brent crude was down 20 cents, or 0.3%, at $73.27 a barrel and is heading for a 3% decline this week after two days of heavy declines. U.S. crude fell 12 cents, 0.2%, to $71.53 a barrel, and is on track for a decline of about 4% this week.
Business News Headlines
Economic Times
Ø Gati transfers 69.79% equity holding in Gati Kausar India to Mandala Capital AG
Ø RPower allots 59.5 crore shares, 73 crore warrants to RInfra
Ø CCI approves Synergy Metals’ stake-buy in JSW Cement under green channel route
Ø Adani Transmission gets shareholders’ approval to raise up to Rs 2,500 cr
Ø Rossari Biotech in advanced talks to acquire a specialty chemicals business
Ø Wipro on fast track with strong organic growth momentum
Ø Jhunjhunwalas cut stake in Titan to lowest level since 2003
Ø Infosys sets stage for an upbeat FY22, and may continue to outperform TCS
Ø NSE-BSE bulk deals: Porinju Veliyath’s Equity Intelligence sells stake in Max India
Ø Baring set to buy controlling stake in Hinduja Global Unit
Ø India still offers some very attractive investment opportunities: Luke Browne
Business Standard
Ø DIPAM invites bids from bankers, advisors for LIC’s initial public offering
Ø RIL says can’t comment on speculation about Just Dial acquisition
Ø Sebi exempts family trust linked to Capri Global from open offer obligation
Ø Amid IPO frenzy, Reliance plans public listing of retail, O2C businesses
Ø NTPC achieves faster cumulative generation in FY22 so far than last year
Ø Cadila arm completes sale of animal health business for Rs 2,921 crore
Ø India’s economy may have grown 22.1% in Q1, but demand is still low: RBI
Ø Govt invites bids from merchant bankers, legal advisors for LIC IPO
Ø Mastercard ban to hit Citi and RBL’s customer acquisition the most
Ø Zomato IPO brought new investors, shift in behaviour: Paytm Money CEO
Financial Express
Ø Chemspec Chemicals files Rs 700-cr IPO papers with Sebi
Ø Sebi moves SC against SAT order on Franklin Templeton
Ø Investors’ wealth jumps over Rs 2.22 lakh cr in three days of market rally
Ø IRFC to raise up to Rs 3,000 crore via 10-year NCDs
Ø Govt invites bids from merchant bankers, legal advisors for LIC IPO
Ø S&P retains India’s rating, says recovery to gain pace in H2
Ø 42% NBFCs expect over 15 pc growth in AUM in FY2022: Icra survey
Ø Exports up 48.34% to $32.5 billion; trade deficit at $9.37 billion in June
Ø No antidumping duty on flat rolled steel products from 15 countries
Ø India’s power consumption returns to pre-COVID level in first fortnight of July; up 17% to 59.36 BU
Mint
Ø As Reliance Industries expands, so do its subsidiaries
Ø L&T Tech becomes the latest beneficiary of froth in markets
Ø US factory production declines unexpectedly on auto output: Fed data
Ø Zomato IPO subscribed 5.07 times on second day led by institutional investors
Ø AGR dues: Supreme Court to hear case on 19 July
Ø ITC’s FMCG sales via e-commerce doubled in FY21
Ø Electricity demand growing faster than roll-out of renewable energies, says IEA
Ø Second purchase of G-secs worth ₹20,000 cr under G-SAP 2.0 on July 22: RBI
Ø Venus Remedies enters consumer healthcare business
Ø RBI projects GDP growth at 10.5% for FY22.
Ø RBI’s ban on Mastercard will hurt banks in near term
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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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