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Market Review

US:

The S&P 500 ended just slightly in the red on Monday, with bank shares falling amid warnings of potential losses from a hedge fund's default on margin calls, while optimism over the economy limited the day's declines

Asia:

Asian shares were set to open higher on Tuesday as investors shook off earlier worries about a hedge fund default that roiled global banking stocks overnight, while rekindled concerns about inflation pushed bond yields higher.

India:

The Sensex closed at 49,008.50, up 568.38 points, or 1.17%, while the Nifty was at 14,507.30, up 182.40 points or 1.27% on Friday, recouping some of the losses from the previous trading sessionMetals, auto, telecom and FMCG sectors led gains. Market is expected to open gap up and likely to witness positive move during the day.

Economy:

Japanese retail sales fell for the third straight month in February as households kept a lid on expenditure amid the coronavirus emergency, underscoring the fragile nature of the economy's recovery from last year's slump. Retail sales lost 1.5% in February from a year earlier, government data showed, a smaller fall than the median market forecast for a 2.8% drop. China's factory activity was expected to have grown at a faster pace in March as factories that had closed for the Lunar New Year holiday ramped up production amid improving foreign demand..The official manufacturing PMI is expected to edge up to 51.2 for March from 50.6 in February Japan's jobless rate was steady at 2.9% in February, while the availability of jobs declined from the previous month. The seasonally adjusted unemployment rate compared with the median forecast of 3.0%, and 2.9% in January.

Commodities:

Oil prices fell on Tuesday as shipping traffic resumed through the Suez Canal after days on hold and attention switched to an OPEC+ meeting this week where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns. Gold prices slipped on Tuesday, around a more than two-week low hit in the previous session, pressured by a stronger U.S. dollar and higher Treasury yields on optimism around a quick economic recovery as vaccinations gain momentum.

Currency:

The dollar down on Tuesday morning in Asia but reached a one-year high against the yen on Tuesday with climbing Treasury yields, the quickening U.S. COVID-19 vaccination rollout and massive U.S. stimulus measures all flaming inflation concerns.

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