IGI Logo

Market Review

US:

U.S. stocks closed higher on Thursday, bouncing from sharp losses in the prior session, thanks to a broad rally as earnings season got off to a strong start and fears lessened around hedge funds selling long positions to cover shorts.

Asia:

Asian stocks were set to rise on Friday after U.S. shares rallied and the dollar eased overnight, as fears of social-media driven hedge fund selling abated and the U.S. earnings season got off to a strong start.

India:

Indian indices ended nearly a % lower on Thursday, extending losses for the fifth consecutive session with Nifty falling below 13,880 dragged mainly by losses in the IT and financial stocks.The Sensex ended 535.57 points or 1.13 % Market is expected to open gap up and likely to witness positive move during the day.

Economy:

Sales of new U.S. single-family homes rose less than expected in December, likely restricted by a jump in home prices.New home sales increased 1.6% to a seasonally adjusted annual rate of 842,000 units last month, the Commerce Department said on Thursday. November's sales pace was revised down to 829,000 units from the previously reported 841,000 units.

German annual consumer prices turned positive and rose by far more than expected in January, attributing a rise in sales tax and the minimum wage as factors behind the increase.Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose by 1.6% year-on-year after declining by 0.7% in December.

The U.S. economy slowed sharply in the final quarter of 2020 as a third wave of coronavirus infections caused states across the country to put tight restrictions on social gatherings and economic activity.Gross domestic product expanded at an annualized rate of 4.0% in the three months through December

Commodities:

Oil prices were mixed on Friday as a pending supply cut by Saudi Arabia and lower U.S. oil stocks helped counter risks of slowing fuel demand due to stalled vaccine rollouts and contagious new coronavirus strains. Gold prices were steady on Friday as investors waited for developments around a U.S. stimulus package, although the metal was on course to post a weekly and monthly decline hurt by a stronger dollar.

Currency:

The dollar remained on the back foot on Friday as an improvement in risk appetite sapped demand for the safest assets, with investors taking cheer from U.S. economic data wasn't as bad as feared.

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