Share Market News

MARKET ROUNDUP: Stocks, rupee end flat, while bonds closes down; European stocks fall

MUMBAI, AUG 7 (Ticker Service):

STOCKS:  India's benchmark stock index ended a lackluster session with tiny gains on Friday. Gains were capped due to weakness in IT sector. The fast-rising Covid-19 cases are creating headwinds for an already fatigued market. India is now reporting the largest daily caseloads in the world and is fast approaching the patient count of Brazil, the second most affected country in the world. A rise in US-China tension also played spoil sport for the market
   The 30-share Sensex ended 15.12 points or 0.04% up at 38,040.57 on the BSE, while the Nifty 50 closed 13.19 points or 0.12% up at 11,214.05 on the NSE.
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EUROPEAN STOCKS:
   European stocks fell and U.S. futures pointed lower on Friday, as investors awaited key American jobs data due later in the day. The pan-European Stoxx 600 was 0.3% lower shortly after the open, while the U.K.'s FTSE 100 also fell 0.3% and the French CAC slipped 0.6%. The German DAX was 0.3% down. Asian markets were mostly lower overnight, as U.S.-China tensions worried investors once again. President Donald Trump issued executive orders late on Thursday banning "transactions" with the Chinese owners of TikTok and WeChat apps from Sept. 20. 
   US stock futures were all 0.5% down in early trading while investors were essentially waiting for nonfarm payrolls data to be released later on Friday. Better-than-expected jobless claims data - the first drop in claims after two weeks of increases - helped stocks higher late on Thursday as the Dow Jones Industrial Average rose 0.7% and the Nasdaq Composite hit fresh record highs.
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RUPEE:
   The local currency ended little changed Friday tracking as mounting Sino-US tension and a strong greenback offset selling by exporters, dealers said.
   Rupee ended at Rs 74.93/$1 Friday compared to previous close of Rs 74.93/$1.
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FORWARD PREMIA:
    Forward premia for dollar maturing in one year ended little changed Friday as both exporters and importers remained on sidelines awaiting further clarity in the direction of spot pair, dealers said.
   Forward premia for dollar maturing in a year ended at Rs 2.79 yielding 3.84% Friday compared to previous close of Rs 2.79 and yield of 3.83%.
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GILTS:
   Government bond prices ended down Friday on concern of debt oversupply, even as government continues exercising greenshoe option amid lack of any bond supportive measures by the Reserve Bank of India at policy, dealers said.
   The 10-year benchmark 5.79%-2030 gilt ended at Rs 99.27 or 5.8880% yield compared with Rs 99.38 or 5.8730% at open Friday and previous close of Rs 99.44 or 5.8637% on Thursday.
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CRUDE OIL:
   Oil prices eased in early trade as industry data showing a build in U.S. crude stockpiles and a forecast for U.S. crude output to fall less than anticipated in 2020 added to worries about oversupply.
   Brent crude oil price for October delivery traded 1.22% down at $44.54 a barrel during late-European trade Friday.

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