IGI Logo

Market Review

US:

U.S. stocks were higher after the close on Monday, as gains in the Technology, Consumer Goods and Healthcare sectors led shares higher.

Asia:

Asian stocks were set to track Wall Street gains on Tuesday as bond yields pulled back, easing concerns about inflation although investors are keeping a close eye on rising COVID-19 cases in Europe.

India:

Domestic equity markets closed in the negative on Monday but staged a strong rebound from the lows. Sensex ended 490 points higher from the day’s low, while Nifty managed to close above 14,730. Market is expected to open on flattish note and likely to witness sideways move during the day.

Global Economy:

U.S. companies' borrowings for capital investments rose about 9% in February from a year earlier, the Equipment Leasing and Finance Association said. The companies signed up for $7.4 billion in new loans, leases and lines of credit last month, up from $6.8 billion a year earlier. But borrowings in February fell 9% from the previous month. ELFA said credit approvals rose to 76.8% in February, from 76.2% in January..

U.S. home sales dropped to a six-month low in February amid cold weather in many parts of the country and record low supply, and a rebound could be muted by rising mortgage rates as well as higher house prices. Still, the report from the National Association of Realtors showed robust demand, with houses only staying on the market for a record-low 20 days last month after being listed.

The slump in sales did not dampen expectations for robust economic growth in the first quarter as brokers' commissions only account for afraction of gross domestic product. Growth is seen boosted by the White House's massive $1.9 trillion fiscal stimulus and increased vaccinations against COVID-19, which are allowing more parts of the economy to reopen.

Commodities:

Oil was down Tuesday morning in Asia, continuing its trend downwards over persistent worries about fuel demand recovery in the short term. Gold prices fell on Tuesday, dragged down by gains in equity markets and the dollar, although concerns around fresh coronavirus cases across Europe limited losses.

Currency:

The U.S. dollar hovered below recent highs on Tuesday as investors looked to fresh comments from top U.S. policy makers to gauge how far they would allow U.S. bond yields to rise.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at https://investmentguruindia.com/Disclaimer/nirmal.html

SEBI Registration number is INH000001766

Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer