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Market Review

US: U.S. stocks were mixed after the close on Thursday, as gains in the Utilities, Healthcare and Oil & Gas sectors led shares higher while losses in the Technology, Consumer Goods and Consumer Services sectors led shares lower.

Asia: Asian shares fell on Friday after Tesla and Netflix weighed on U.S. tech shares after their earnings reports, while the dollar and Treasury yields held their gains ahead of an action-packed week that could see the end of the U.S. tightening cycle.

India: Indian stock indices closed at yet another record highs, Sensex topped 67500, Nifty missed 20000 mark by a thin margin. On Thursday's trade, stocks had a muted opening but gains in Banking heavyweights, FMCG stocks and Pharma names towards the end of trade helped indices post a solid close. Market is expected to open gap down and likely to witness profit booking during the day.

Global Economy: Beijing authorities on Friday unveiled measures to boost consumption of auto and electronics items as part of a broader drive to shore up China's faltering economy. In two separate statements issued an hour ahead of a press conference in Beijing, the country's economic planner and other government departments detailed a raft of measures to prop up spending on auto and electronics products.

Core inflation in Japan's capital likely stayed above the central bank's 2% target but slowed sharply in July, a Reuters poll showed on Friday, suggesting that easing cost pressures will moderate the pace of price gains nationwide. The Tokyo core consumer price index (CPI), which excludes volatile fresh food but includes fuel costs, likely rose 2.9% in July from a year earlier, according to a Reuters poll, slowing from a preliminary 3.2% gain in May. The slowdown would be largely due to moderating fuel costs and the base effect of last year's sharp gains, analysts say.

Commodities: Gold prices rose on Friday and were headed for a positive week amid increasing bets that the Federal Reserve was close to ending its rate hike cycle, while copper prices rose as major importer China unveiled more stimulus measures. Oil prices rose on Friday after wild swings through the week as markets weighed tightening supplies and uncertainty over demand, with focus now shifting squarely towards a Federal Reserve meeting next week

Currency: The dollar was steady on Friday as data pointed to U.S. labour market resilience that could lead the Federal Reserve to keep interest rates higher for longer, while the yen strengthened after Japan's core consumer inflation reaccelerated in June.

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