IGI Logo

Market Review

US: Wall Street's main indexes ended lower on Wednesday as talks between the White House and Republican representatives on raising the U.S. debt ceiling dragged on without a deal.

Asia: Asia-Pacific markets are mixed as the Bank of Korea held its benchmark interest rate steady at 3.5%, in line with expectations.

India: The equity market ended with over 0.30% losses on Wednesday, amid selling in blue chip counters such as HDFC duo, ICICI Bank, and Reliance Industries. Besides, weak global cues, too, dented investor sentiment

Market is expected on a flattish note and likely to witness sideways move during the day.

Global Economy: South Africa's headline consumer inflation slowed more than expected in April to an 11-month low of 6.8% in annual terms. Inflation had edged up for two consecutive months in February and March, raising a dilemma for the South African Reserve Bank (SARB) which is trying to keep a lid on price pressures without further stifling anaemic economic growth. The central bank of Africa's most industrialised economy targets inflation between 3% and 6%, but it has been above that band since May 2022.

South Korea's producer prices rose in April at the slowest pace in 27 months, as agricultural and utility prices fell. The Producer Price Index stood 1.6% higher in April than the same month a year before, slower than the 3.3% rise in March. It was the slowest since January 2021. The index fell 0.1% on a monthly basis, reversing its 0.1% gain in the previous month and marking the first fall in four months, with agricultural product and utility prices dragging it lower

Commodities: Gold prices held steady on Thursday after minutes from the U.S. Federal Reserve's last meeting signalled a likely pause in the rate-hike campaign in June, while debt ceiling negotiations kept investors on the edge.

Oil prices fell in early Asian trading on Thursday after uncertainty that the United States will avoid a debt default weighed against the prospect of further OPEC+ production cuts

Currency: The dollar pushed to a two-month high against the euro and a six-month peak versus the yen on Thursday, as a resilient U.S. economy led traders to pare their bets on rate cuts this year.

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