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Market Review

US: U.S. stocks jumped to close higher for the second straight day, leaving the Nasdaq looking toward a double-digit firstquarter gain.

Asia: Markets in the Asia-Pacific traded higher on Friday as technology stocks continued to see renewed interest and led gains on Wall Street, with some shaking off concerns of a further banking crisis.

India: Indian stock market remained volatile towards the start but ended with gains amidst positive global cues.

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

Global Economy: The number of Americans filing for unemployment insurance grew by more than expected last week. Seasonally adjusted initial jobless claims for the week ended on March 25 rose to 198,000, up from an unrevised level of 191,000 in the prior period. The four-week moving average for claims, which aims to account for volatility in the data set, increased by 2,000 to 198,250 - the highest mark in 10 weeks. Chinese manufacturing activity slowed slightly less than expected in March, amid some resilience in local demand and continued momentum from the lifting of anti-COVID measures earlier this year. But service sector activity blew past estimates to reach its highest level in nearly 12 years, as the sector continued to benefit from pent-up demand and government measures to increase domestic spending. This also helped overall business activity expand during the month, keeping up the momentum from a post-COVID boom. The Chinese manufacturing purchasing managers’ index (PMI) grew 51.9 in March, more than estimates of 51.5 but below the prior month’s reading of 52.6.

Commodities: Gold prices eased on Friday as the dollar edged up ahead of key U.S. inflation data that could influence the Federal Reserve's monetary policy path. Oil prices climbed in early Asian trade on Friday as sentiment was boosted by an expansion in factory activity in China, the world's second largest crude consumer, and as concerns grew about Middle Eastern supply.

Currency: The dollar tracked toward a second consecutive quarterly loss on Friday, as investors see U.S. interest rates close to peaking and expect the dollar's yield advantage is in decline.

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