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Market Review:

US

U.S. stocks fell on Friday, with the Dow Jones Industrial Average posting its worst weekly loss since October, as traders worried the Federal Reserve could start raising rates sooner than expected.

Asia:

Asian stocks dropped on Monday as investors mulled the implications of a surprise hawkish shift last week by the U.S. Federal Reserve, while the Treasury yield curve flattened further with 30-year yields dropping below 2%.

India:

Indian stock markets ended flat in a volatile session, after falling sharply in early trade. Intra-day Sensex fell over 700 points when it hit 51,601 at day's low but later ended 21 points higher at 52,344. Similarly, Nifty settled flat at 15,683, after sliding below 15,500 at day's low. The broader markets however ended weak with BSE midcap, smallcap indices falling over 0.7% and 0.9% respectively.Market is expected to to open gap down and likely to witness profit booking during the day.

Economy: 

Asking prices for British homes between mid May and early June rose by 0.8% compared with a month before, the biggest rise for the time of year since 2015, as available housing remains in short supply.The increase is less than the 1.8% recorded a month earlier but still takes asking prices 7.5% above their level in early March 2020, before Britain went into its first COVID lockdown. British retail sales fell unexpectedly last month as a lifting of lockdown restrictions encouraged spending in restaurants rather than shops. Retail sales fell 1.4% between April and May. A Reuters poll of economists had pointed to an 1.6% month-onmonth increase in retail sales volumes for May

Commodities:

Oil prices nudged up on Monday, underpinned by strong demand during the summer driving season and a pause in talks to revive the Iran nuclear deal that could indicate a delay in resumption of supplies from the OPEC producer. Gold prices firmed on Monday, after posting a 6% drop last week, as a retreat in U.S. Treasury yields boosted the allure of the non-yielding metal.

Currency:

The dollar held near multi-month peaks against other major currencies on Monday, after the U.S. Federal Reserve surprised markets last week by signalling it would raise interest rates and end emergency bond-buying sooner than expected

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