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Market Review

US:

The S&P 500 and Dow Jones industrial average ended lower on Monday, with investors waiting for cues from the upcoming corporate earningsseason and a key inflation report later this week.

Asia:

Asia share markets were cautious on Tuesday after U.S.markets weakened as investors anticipated the start of corporate earningsseasons and the release of key inflation data to indicate how the globalrecovery from the pandemic will emerge.

India:

Indian stock markets tanked today amid a surge in domesticcoronavirus cases and prospects hardest-hit state of Maharashtra considering alockdown. The Sensex crashed over 1,700 points today to 47,883.38 while thebroader NSE Nifty 50 index closed 3.53% lower at 14,310. India reported arecord 1.68 lakh new coronavirus cases in 24 hours, overtaking Brazil to becomethe second-most affected country globally by the coronavirus. The rupee alsofell sharply against the US dollar. Market is expected to open on a flattish note and likely to witness sideways move during the day

Economy:

The U.S. government posted a March budget deficit of $660billion, a record high for the month, as direct payments to Americans underPresident Joe Biden's stimulus package were distributed. The deficit for thefirst six months of the 2021 fiscal year ballooned to a record $1.706 trillion,compared to a $743 billion deficit for the comparable year-earlier period.

Japanese wholesale prices marked their first annual increasein more than a year in March, a sign that rising commodities costs are pinchingcorporate margins and adding inflationary pressure to the world's third-largesteconomy. Japan's corporate goods price index (CGPI), which measures the pricefirms charge each other for their goods and services, rose 1.0% in March from ayear earlier, Bank of Japan (BOJ) data showed, marking the first risein 13 months.

Commodities:

Oil prices edged higher on Tuesday on tensions in the MiddleEast after the Yemen-based Houthi movement said it fired missiles on Saudi oilsites and on an expected drawdown in crude oil inventory in the United States. Gold slipped on Tuesday as firmer U.S. Treasury yields tooksome sheen off the yellow metal, with optimism about a quick economic rebound weighing on prices further.

Currency:

The dollar hovered near a three-week low against majorrivals on Tuesday, pressured by lower Treasury yields as traders awaited highlyanticipated U.S. inflation data later in the global day.

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