IGI Logo

Market Review

US:

U.S. stocks closed mostly lower Friday and booked losses for the week, with bank shares under pressure after the Federal Reserve said it would not extend temporary relief from capitalrequirement rules for banks, and the Department of Justice was said to be investigating Dow component Visa Inc. but technology shares recovered some ground.

Asia:

Asian markets were holding their nerve on Monday as a plunge in the Turkish lira tested risk appetite, with stocks and bonds showing only a limited bid for safe-havens.

India:

Snapping five session losing streak, Indian benchmark indices closed higher on Friday, undermining weak cues from Asian peers. The BSE Sensex surged 641 points or 1.3% to close at 49,858, and the NSE Nifty ended at 14,736.80, up by 178.95 points or by 1.23%. In line with benchmark indices, the broader markets also settled in green. Market is expected to open on flattish note and likely to witness sideways move during the day.

Global Economy:

Bank of Japan Governor Haruhiko Kuroda said that the centralbank would not stop buying exchange-traded funds or sell them as it proceedswith yield curb control policy without affecting share prices. The No. 2 official at the IMF pointed to emerging signs of a stronger global economic recovery, but warned that significant risks remained, including the emergence of mutations of the coronavirus.

IMF First Deputy MD Geoffrey Okamoto said that in early April the Fund would update its January forecast for global growth of 5.5% to reflect additional fiscal stimulus spending in the United States, but gave no details. China's monetary policy needs to focus on supporting economic growth in a targeted way while also reducing financial risks, the central bank head said. "Monetary policy needs to strike a balance between supporting economic growth and preventing risks," People's Bank of China (PBOC) Governor Yi Gang said.

Commodities:

Oil prices resumed their decline on Monday, falling around 1% as worries about a drop in demand for fuel products in the wake of yet more European lockdowns dominated trading. Gold prices fell on Monday as Turkey replacing its central bank governor with a high interest rate critic led to investors flocking towards the safety of the dollar, on fears that the move would threaten other financial markets.

Currency:

The Turkish lira slumped toward a record low versus the dollar after President Tayyip Erdogan stunned investors over the weekend by replacing the hawkish central bank governor with a critic of high interest rates.

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