IGI Logo

Market Review

US:

U.S. stocks were higher after the close on Wednesday, as gains in the Healthcare, Technology and Basic Materials sectors led shares higher.

Asia:

Asia Pacific stocks were mostly up on Thursday morning, with investors digesting the latest Chinese inflation data and the impact of the new omicron COVID-19 variant on the economic recovery.

India:

Indian stock markets extended gains from Tuesday, tracking positive global cues and as RBI maintained status quo on policy rates. The Nifty moved between 17,308.95 and 17,484.60. Market is expected to open on a flat note today and is likely to remain positive during the day.

Economy:

China's factory-gate inflation slowed in November, driven by a government crackdown on runaway commodity prices and an easing power crunch, amid Beijing's efforts to bolster the faltering economy.The increase in the producer price index was slower than a 13.5% gain in October New Zealand manufacturing sales volumes fell 6.4 % in the third quarter.Volumes for dairy and meat products, the country's biggest export earners, fell 1.1 %. U.S. job openings surged in October while hiring decreased, suggesting a worsening worker shortage, which could hamper employment growth and the overall economy. Job openings, a measure of labor demand, increased by 431,000 to 11.0 million on the last day of Oct. This was the second-highest on record. The Bank of Canada held its key overnight interest rate unchanged, as expected, and said inflation was broadening even as it warned that the Omicron coronavirus variant has created "renewed uncertainty."The central bank, in a regular rate decision, left its key overnight interest rate at 0.25% and maintained guidance that economic slack would be absorbed in the "middle quarters" of 2022, setting the stage for a first rate hike as soon as April.

Commodities:

Oil prices extended gains on Thursday on confidence that the Omicron coronavirus variant would not dent global growth, even as some governments stepped up curbs to stop its rapid spread. Gold prices were little changed , with a subdued dollar offsetting firmer U.S. Treasury yields, as investors squared positions in the run-up to U.S. consumer prices data this week.

Currency

The dollar failed to pick up ground on most major peers on Thursday as markets saw optimism in early data hinting the Omicron variant of the new coronavirus may not be as bad as feared, even as new COVID-19 restrictions in Britain hurt the sterling.

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