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Market Review

US:

Major U.S. stock indexes climbed Friday to close at all-time highs, notching modest weekly gains.

Asia:

Asian shares advanced to record highs on Monday as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington, while oil prices rose on heightened tensions in the Middle East.

India:

Indian indices ended flat on Friday after rising in early deals as FMCG, energy, pharma and metal stocks declined. However, a rise in IT and financial stocks capped the fall. Heavyweights ITC, RIL, Bharti Airtel, and HUL dragged the benchmarks which ICICI Bank, Infosys and HDFC twins rose.The Sensex ended 13 points higher at 51,544 while the Nifty lost 10 points to settle at 15,163. Market is expected to open gap up and likely to witness positive move during the day.

Economy:

Ukraine must make more progress on reforms to unlock the next part of a $5 billion loan, the International Monetary Fund (IMF) representative in Kyiv said Britain's coronavirus-ravaged economy suffered its biggest crash in output in more than 300 years in 2020 when it slumped by 9.9%, but it avoided heading back towards recession at the end of the year and looks on course for a recovery in 2021.

Britain's economy grew 1.2% in December alone, after a 2.3% fall in output in November when there was a partial lockdown, pointing to greater resilience to COVID restrictions than at the start of the pandemic.

That left output 6.3% lower than in February before the start of the pandemic Japan's economy expanded more than expected in the fourth quarter, extending its recovery from its worst postwar recession as a rebound in overseas demand boosted exports and capital expenditure. The world's third-largest economy grew an annualised 12.7% in October-December, marking the second straight quarter of increase

Commodities:

Oil prices rose to their highest in more than a year on Monday, after a Saudi-led coalition fighting in Yemen said it intercepted an explosive-laden drone fired by the Iranaligned Houthi group, raising fears of fresh Middle East tensions. Gold eased on Monday after U.S. Treasury yields jumped to their highest in nearly 11 months in the previous session, with platinum scaling a six-year peak on expectations of a supply shortfall.

Currency:

The dollar started the week pinned near two-week lows on Monday as traders questioned whether the recovery from the pandemic in the United States would be as fast as expected.

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