IGI Logo

Market Review

US: U.S. stocks were higher after the close on Monday, as gains in the Basic Materials, Utilities and Consumer Goods sectors led shares higher.At the close in NYSE, the Dow Jones Industrial Average added 0.64%, while the S&P 500 index climbed 0.69%, and the NASDAQ Composite index climbed 0.76%.

Asia: Asian shares edged up in early trade on Tuesday following a rebound in the final hour of New York trading as investors turned their attention to an expected hefty Federal Reserve interest rate hike this week to tackle inflation

India::Indian stock markets witnessed a rout for the second day in a row and ended in the red. While the BSE Sensex closed at 58,840.79, down nearly 1093.22 points or 1.82% from the Thursday closing price, the 50-share Nifty50 index settled at 17,530.85, down by 346.55 or 1.94% from the last closing.

Market is expected to open gap up and likely to witness positive move during the day.

Global Economy: Japan will spend 3.48 trillion yen ($24.31 billion) in budget reserves to cope with ongoing price hikes and respond to COVID-19

Japan’s core consumer inflation rose more than expected to a near eight-year peak in August. The national core consumer price index, which excludes the price of fresh food but includes energy, rose 2.8% in August, compared to a 2.4% rise in July, data from the Statistics Bureau showed. The figure also came above estimates for growth of 2.7%. Overall nationwide CPI rose 3% in August, more than July’s reading of 2.6%, and also at an eight-year high.

Commodities: Gold prices rose slightly on Tuesday but kept to a tight range seen this week as investors held off from making big bets ahead of a U.S. Federal Reserve meeting that is expected to result in an interest rate hike.

Oil prices were little changed on Tuesday, after rising in the previous session, on concerns that interest rate hikes in the United States to tame inflation will curb economic growth and fuel demand in the world's biggest crude consumer.

Currency: The dollar remained firm below a two-decade high versus major peers on Tuesday, as investors braced for the Federal Reserve to continue its aggressive interest-rate-hiking campaign to rein in overheated inflation.

To Read Complete Report & Disclaimer Click Here
 

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
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