IGI Logo

Market Review

US:

US markets closed higher on Friday to register their best month since 2020, clawing back some of their losses from a dismal first half. S&P 500 added close to 9.00% in July, Dow gained 6.7%, the best monthly gain for each index since November 2020.

Asia:

Asian share markets got off to a slow start on Monday as disappointing Chinese economic data fed doubts last week's rally on Wall Street could be sustained in the face of determined policy tightening by global central banks.

India:

Financials, Oil & Gas and IT names took Indian indices to 3 month closing highs, Nifty moved above 17150, Sensex added 712 pts at close on Friday.

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

Global Economy:

U.S. consumer spending increased more than expected in June as Americans paid more for goods and services, with monthly inflation surging by the most since 2005. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 1.1% last month, the Commerce Department said. Data for May was revised up to show outlays gaining 0.3% instead of 0.2% as previously reported.

China's factory activity expanded at a slower pace in July, as growth momentum softened in output, new orders and employment, a private sector poll showed on Monday. The Caixin/Markit manufacturing purchasing managers' index (PMI) eased to 50.4 in July from 51.7 in the previous month. The reading was well below analysts' expectations for a slight dip to 51.5. The 50-point index mark separates growth from contraction on a monthly basis.

Commodities:

Oil prices dropped early on Monday as investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments.

Gold prices held steady on Monday, hovering near a more than three-week high scaled in the previous session, helped by a weaker U.S. dollar and lower bond yields

Currency:

The dollar hung near a three-week low to major peers on Monday as markets continued to wager that the Federal Reserve has less tightening to do with the U.S. economy at risk of recession.

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