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Market Movers: What changed for D-Street while you were sleeping


Market Movers: What changed for D-Street while you were sleeping

Asian shares mixed, S&P futures flat

Asian share markets dithered on Friday as investors waited for concrete signs of progress in the US-Mexican trade standoff, while bracing for a US jobs report that could sway the course of interest rates there. MSCI's broadest index of Asia-Pacific shares outside Japan edged 0.04 per cent higher. Japan's Nikkei firmed 0.3 per cent, but South Korea slipped 0.5%. E-Mini futures for the S&P 500 were mostly flat 

US stocks settle higher

US stocks finished higher Thursday as optimism that the US and Mexico can work out a deal before costly tariffs kick in next week helped power the market to its third straight gain, AP reported. The S&P500 index gained 17.34 points, or 0.6 per cent, to 2,843.49. The Dow Jones Industrial Average rose 181.09 points, or 0.7 per cent, to 25,720.66. It briefly climbed 260 points. 

Oil prices climbed around 1 per cent to move further away from five-month lows hit earlier in the week, buoyed by a report that Washington could postpone trade tariffs on Mexico and signs OPEC and other producers may extend crude supply cuts. Brent crude futures were up 50 cents, or 0.8 per cent, at $62.17 a barrel, having risen earlier to $62.41. They gained 1.7 per cent on Thursday. 

FIIs sell Rs 1,449 cr worth equities

Foreign portfolio investors (FPIs) sold Rs 1,448.99 crore worth of domestic stocks on Thursday, data available with NSE suggested. DIIs were net sellers to the tune of Rs 650.84 crore, data suggests. 

MONEY MARKETS

Rupee flat: The Indian rupee recouped most of its early losses and closed marginally lower at 69.28 to the US dollar after the Reserve Bank in a widely expected move cut key interest rates by 0.25 percentage point.

10-yr bond yields: India 10-year bond yields fell 0.09% to 6.93% on Thursday against 7.02% in the previous session, according to RBI data.

Call rates: The overnight call money rate weighted average was 5.87% on Thursday, according to RBI data. It moved in a range of 4.50-6.00%. 

Tribunal rejects NSE plea in co-location case

The Securities Appellate Tribunal (SAT) rejected NSE's plea for allowing it to provide bank guarantee instead of transferring Rs 687 crore from escrow account to Sebi in the co-location case. The tribunal, however, granted an additional week to the exchange to comply with Sebi’s May 22 order asking it to deposit the sum within two weeks.

Sebi vets 'default probability' rule for rating firms

Amid corporate delinquency, investor losses, and blame game, India’s capital market regulator is examining a ‘default probability’ framework to keep credit rating agencies on their toes.The plan, which was recently discussed with large rating companies, involves the Sebi assigning probabilities to different baskets of rated debts.