Global markets at a glance
European shares fell on Thursday, with banking stocks dragging regional equity indexes to touch their lowest point in almost four months in a market dominated by concerns over next week’s British vote on European Union membership. The risk of Brexit and new signs that interest rates would stay low for longer compounded the uncertainty surrounding the banking sector, already hit by slow growth and expectations of capital increases from southern European lenders. A warning from the Swiss National Bank that UBS and Credit Suisse would likely each need to raise an extra 10 billion Swiss francs to meet new leverage requirements added to the gloom. Wall Street closed higher on Thursday as investors digested the implications of a British lawmaker’s death on the country’s impending referendum on whether to leave the European Union. The benchmark S&P 500 index snapped a five day losing streak, after erasing sharp losses earlier in the session. A British Member of Parliament was shot dead in the street in northern England, causing the temporary suspension of campaigning for next week’s referendum on EU membership .
The Market was very volatile in last session. The sartorial indices performed as follow; Consumer Durables [down 3.91pts], Capital Goods [up 151.72pts], PSU [up 0.54pts], FMCG [down 40.10Pts], Realty [down 9.68pts], Power [down 9.61pts], Auto [down 177.09pts], Healthcare [down 63.16pts], IT [down 25.74pts], Metals [up 33.96Pts], TECK [down 32.75 pts], Oil& Gas [down 29.05pts].
Crompton Greaves up 3%; to sell global automation arm by Sep
AIADMK hints at possible resolution on GST Bill
Vijay Mallya to step down as UB Chairman
Brexit risk for Tata Motors: UK slowdown, trade tariffs may hurt JLR
SAIL urges government to review trade pacts with Japan, Korea
Moody’s revises Tata Power’s outlook to negative from stable
Mahindra Two Wheelers launches Gusto 125 in 8 more states
Jaguar Land Rover begins operations at Brazilian plant
Private equity firms invest $3.1 bn in Jan-Mar: PwC
Fitch assigns BBB- rating to NTPC with stable outlook
1000 MW grid connected wind power scheme to benefit utilities in meeting RPO norms: ICRA
Unique numbers to be issued to Karnataka school students as part of tracking system funded by Infosys Foundation
Coal scam hit Bhel’s performance, says minister
Maharashtra FDA suspends Sequent Scientific’s Mahad unit license
Govt levies 20% export duty on raw, refined and white sugar
Global investors eye big stake in GMR Hyderabad airport
SBI creates `200 cr fund to invest in FinTech startups
V-Guard Industries board Approves Proposal For Splitting Each Share Into 10
Tata Group partners with Uber to offer drivers finance, insurance
OBC issues Tier 2 bonds worth 500 Cr & a greenshoe option of 500 Cr
Wipro seeks govt nod to set up IT SEZ in Kolkata
Kajaria Ceramics board Approves Split 1:2
Ujaas Energy receives 20.66 Cr order from Aligarh Muslim University
COMEX Copper tumbled sharply today as traders booked profits after sharp gains in last session. Global equities attempted a feeble recovery after the Fed and BOJ induced aftershocks. However, the Brexit fears ensured that overall sentiments remain under check. Stocks in Europe are down about 1% while Asian stocks ended on a similar note. COMEX Copper is quoting around the key $2 per pound levels. The contract is down 2.60% on the day. MCX Copper futures flipped back after ending above Rs 310 levels yesterday and dropped sharply today. The counter quotes at Rs 304.30 per kg, down more than 2% on the day. Central banks across the world are holding back policy actions ahead of Brexit, the possible exit of Britain from the European Union. While the referendum is on June 23, the US Federal Reserve’s decision not to raise rates has helped gold trade at $1,311 announce, the highest since July 2014, as looming uncertainties and economic worries have forced investors to take shelter in the yellow metal.
CURRENCY MARKET UPDATES
After a brief pause, the rupee today once again fell back to its old ways, slipping by 6 paise to end at 67.21 a dollar on fag-end demand for the American unit from banks and importers amid fall in domestic stocks. Weakness of dollar in the global markets and foreign capital outflows also affected the rupee sentiment. The rupee opened higher at 67.12 against yesterday’s closing level of 67.15 at the Interbank Forex market here today on initial selling of dollars by exporters. However, it dropped afterwards to 67.33 before ending at 67.21 on fag-end dollar demand from banks and importers, showing a
loss of of six paise or 0.09%. The domestic currency hovered in a range of 67.12 and 67.3350 per dollar during the day. The rupee had gained by 12 paise or 0.18 percent against the American currency yesterday.
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