IGI Logo

Market Review:

US

The Dow Jones Industrial Average traded higher in today's market and closed near its highs of the day. Meanwhile, the S&P 500 also continued higher, while the Nasdaq composite lagged but eventually reversed higher and closed in the green.

Asia:

Asia-Pacific stocks were mixed in Friday morning trade as investors look ahead to a closely-watched U.S. jobs report set to be released later.

India:

investors continued to stay on the sidelines on Thursday as new Delta and Delta plus variants of novel coronavirus push Covid-19 cases higher across the globe. Besides, weak economic data further dented the market sentiment. India's domestic factory orders and production contracted to an 11- month low in June as measures to contain the coronavirus put manufacturing into reverse gear. The PMI slipped to 48.1 in June from 50.8 in May and 55.5 in April. Given this, the frontline BSE barometer gave up 164 points, or 0.31%, to end at 52,318 levels. The broader Nifty50, on the other hand, settled at 15,680 levels, down 42 points or 0.26%. Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global Economy:

The number of Americans filing new claims for unemployment benefits fell more than expected last week, while layoffs plunged to a 21-year low in June as companies held on to their workers amid labor shortages. Initial claims for state unemployment benefits dropped 51,000 to a seasonally adjusted 364,000 for the week ended June 26. Europe’s manufacturing PMI rose to 63.4 in June from May's 63.1, above an initial 63.1 "flash" estimate and the highest reading since the survey began in June 1997. However, due to a shortage of shipping containers and supply chains hugely affected by the global pandemic, the input prices index soared to 88.5 from 87.1, by far the highest ever.

Commodities:

Oil prices held steady on Friday after OPEC+ ministers delayed a meeting on output policy as the United Arab Emirates balked at a plan to add back 2 million barrels per day (bpd) in the second half of the year. Gold prices held in a tight range on Friday as investors stayed away from making big bets ahead of the U.S. nonfarm payrolls data that could sway Federal Reserve's monetary policy stance.

Currency:

The U.S. dollar was perched at a 15-month high on the yen and at multi-month peaks against other majors on Friday, as traders wagered strong U.S. labour data could lift it even further.

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