IGI Logo

Market Review:

US

U.S. stocks climbed on Monday as the market recouped some of the steep losses caused by the Federal Reserve’s policy shift

Asia:

Asia Pacific stocks were mostly up Tuesday morning, following a rebound in U.S. counterparts during the previous session. The possibility that policy tightening could be more gradual than expected allayed fears over the U.S. Federal Reserve's latest hawkish tilt.

India:

Indian indices closed 0.40% higher on Monday. Markets gained momentum, as India opened free vaccination against covid for all citizens on Monday. However, Asian peers closed in the red owing to fears arising from the Fed's hawkish turn. Benchmark Indian equity indices closed 0.40% higher on Monday, recouping losses after a negative start. The Sensex closed at 52,574.46, up 230.01 points, or 0.44%, while Nifty was at 15,746.50, up 63.15 points, or 0.40%.Market is expected to open on a gap up note and likely to witness positive move during the day

Economy: 

The U.S. economy continues to show "sustained improvement" from the impact of the coronavirus pandemic and ongoing job market gains, but inflation has "increased notably in recent months," Federal Reserve Chair Jerome Powell said The recent rise in inflation in the euro zone and the United States is temporary and is unlikely to have permanent effects, ECB Governing Council member Mario Centeno said. Inflation in the 19 countries sharing the euro rose 0.3% month-on-month in May for a 2.0% year-on-year increase. The ECB aims to keep inflation below, but close to, 2%

Commodities:

Crude dropped on Tuesday as investors cashed in on a recent rally, but market sentiment remained solid on hopes for a quick recovery in oil demand in the U.S. and European markets and fading expectations for an early return of Iranian crude. Gold prices edged higher on Tuesday, as a pullback in the dollar lifted demand for the safe-haven metal, ahead of U.S. Federal Reserve Chairman Jerome Powell’s testimony to Congress later in the day.

Currency:

The dollar paused for breath on Tuesday as traders looked to testimony from U.S. Federal Reserve chair Jerome Powell for guidance, after a surprise shift in the central bank's policy outlook, while cyptocurrencies nursed heavy losses.

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