World Markets
19 July 2021
World Markets at a glance for Currency, Equity, Commodity, Bonds, Crypto Currency, Financial News & Major Economic Events.
- Dollar firm as Delta virus threat looms over ‘Freedom Day’
- Asian shares extend losses on renewed virus scare, inflation woes
- Oil falls more than 1% after OPEC+ agrees to boost supply
Currency
The dollar sat near its highest levels in months on Monday as the spread of the Delta coronavirus variant made investors nervous about the global recovery and sent money into safety.
The risk-sensitive Australian dollar fell to its weakest against the greenback since December early in the Asia session and hit a five-month low against the safe-haven yen. The dollar also rose broadly against Asian currencies.
The U.S. dollar index held at 92.729, not far from last week’s three-month top of 92.832. The euro fetched $1.1801, just a touch away from last week’s three month low of $1.1772. The yen, which rose broadly, was up 0.2% at 109.90 per dollar.
The Indian rupee is expected to weaken against the dollar tracking broad losses in Asian currencies and equities on worries over the economic outlook. The rupee is tipped to trade around 74.75-74.80 initially
Equity
Asian shares slipped again on Monday while perceived safe haven assets, including the yen and gold, edged higher as investor risk appetite was soured by fears of rising inflation and a relentless surge in coronavirus cases.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4% for its second straight day of losses. Japan’s Nikkei dropped 1.3% as did Australia’s benchmark share index. South Korea’s KOSPI was 1% lower while New Zealand’s shares were off 0.4%. The Indian stock market is expected to open in the red as trends on SGX Nifty indicate a gap-down opening for the index in India with a 216 points loss.
Oil
Oil prices fell more than 1% on Monday, hit by an agreement over the weekend within the OPEC+ group of producers to boost output after an earlier pact fell apart due to objections from the United Arab Emirates (UAE).
Brent crude was down $1, or 1.4%, at $72.59 a barrel, after falling nearly 3% last week. U.S. oil was down 94 cents, or 1.3%, at $70.87 a barrel, having declined almost 4% last week.
Business News Headlines
Economic Times
Ø ITC Group’s earning from foreign exchange in FY’21 up 29%
Ø Reliance’s O2C, new energy business may be valued over $100 billion
Ø Automobile exports recover in Q1 as pandemic situation improves globally
Ø Pandemic no equaliser in auto sector as demand recovery falters
Ø FPIs pull out Rs 4,515 cr from Indian equities so far in July
Ø M-cap of 6 out of top 10 domestic firms soars over Rs 69,611 cr
Ø NPCI in talks to take UPI, RuPay to global markets
Ø Discoms’ outstanding dues to gencos fall 15.25% to Rs 82,305 cr in May
Ø OMCs pause petrol, diesel price hike on Sunday
Ø Mindtree’s margin story remains intact: CEO
Ø Shree Cement Pune plant to commission in September
Business Standard
Ø Rossari to acquire Tristar Intermediates at enterprise value of Rs 120 cr
Ø Analysts expect ‘muted’ June qtr for telcos amid lower subscriber additions
Ø RIL’s retail business likely to grow 3x in next 3-5 years: Report
Ø Adani group rejigs airport business leadership, names execs for new roles
Ø Oil Ministry authorises new companies to sell auto fuels in the country
Ø Q1 earnings to guide equity markets in holiday-shortened week say analysts
Ø BSNL narrows consolidated loss to Rs 7,441 crore in FY 2021: Official
Ø Flex-fuel engines: Roadmap, benefits and challenges for Indian auto sector
Ø HDFC Securities to enter discount broking segment to win market share
Ø India Inc’s overseas direct investment in June doubles at $2.8 bn
Financial Express
Ø Reliance’s O2C, new energy biz may be valued over $100 bn
Ø Mega Debut: Paytm ready for Rs 16,600-crore mega IPO
Ø FDI limit in NPS fund managers hiked to 74%
Ø Exports jump 48% in June, imports surge 98%
Ø Alkem looks for partnerships, in-licensing deals to bolster presence in US market
Ø Record steel prices inject life into long-suffering industry
Ø Healthcare to have special focus in coming decades: Cadila Healthcare
Ø Kirloskar to invest additional Rs 250 crore in NBFC arm, monetise land assets
Ø Reliance Retail Ventures buys 41% in Just Dial for Rs 3,497 crore
Ø Bandhan Bank’s advances grow 8% y-o-y in Q1
Mint
Ø Bank credit growth improves, deposit growth declines: RBI
Ø Wipro’s turnaround is on track but its valuation has run ahead of itself
Ø HDFC Bank monitoring commercial vehicle sector hit by diesel price hike
Ø Discoms may be turning a corner as losses dip in FY20
Ø Record steel prices inject life into long-suffering industry
Ø RBI bars Mastercard from issuing new debit, credit cards in India from 22 July
Ø India IT spending expected to grow at 8% to $92.7 bn in 2021: Gartner report
Ø Flush with unicorns, India’s tech moment arrives
Ø Pricing discipline to save cement makers battling cost inflation
Ø Paytm’s IPO needs more than the rub-off from Zomato’s exuberance
Ø Fed rate hike may not hurt Asia; stronger US growth positive
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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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