IGI Logo

Market Review

US:

Wall Street ended sharply lower on Tuesday, with financial stocks bearing much of the damage for a second straight day as the Russia-Ukraine crisis deepened and stirred anxiety among investors..

Asia:

Asian stocks came under renewed pressure on Wednesday and oil prices jumped after rising worries about the impact of aggressive sanctions against Russia over its invasion of Ukraine sank shares in Europe and on Wall Street.

India:

Indian equity benchmarks recovered initial losses in a volatile session on Monday, extending gains to a second straight day, ahead of the release of the country's official GDP data. Gains in metal, IT and oil & gas powered the recovery in headline indices, though losses in financial and auto shares limited the upside. Market is expected to open gap down and is likely to witness selling pressure during the day.

Global Economy:

U.S. manufacturing activity picked up more than expected in February as COVID-19 infections subsided, though hiring at factories slowed, contributing to keeping supply chains snarled and prices for inputs high. The ISM's index of national factory activity increased to a reading of 58.6 last month from 57.6 in January, which was the lowest since November 2020. U.S. construction spending surged in January, boosted by strong outlays on single-family homebuilding and private nonresidential structures. The Commerce Department said that construction spending increased 1.3%. Data for December was revised higher to show construction outlays rising 0.8% instead of 0.2% as previously reported Canadian manufacturing activity expanded in February at the fastest pace in three months as an easing of domestic restrictions to contain the coronavirus pandemic supported a pick-up in production.The IHS Markit Canada Manufacturing PMI rose to a seasonally adjusted 56.6 in February from 56.2 in January, posting its highest level since November last year

Commodities:

Oil prices rose on Wednesday as sanctions on Russian banks following Moscow's invasion of Ukraine hampered trade finance for crude shipments and some traders opted to avoid Russian supplies in an already tight market. Gold prices dipped in early Asian trade on Wednesday, as the dollar ticked higher, outweighing safe-haven demand fuelled by the intensifying Russia-Ukraine conflict.

Currency:

The euro was under pressure on Wednesday as intensifying Russian bombardment of Ukraine's cities and a surging oil price raised investor concerns about a hit to Europe's economy and growth..

To Read Complete Report & Disclaimer Click Here
 

Please refer disclaimer at https://investmentguruindia.com/Disclaimer/nirmal.html

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