IGI Logo

Market Review

US: Stocks wobbled between small gains and losses in another quiet session Monday, while investors awaited a flood of corporate-earnings reports and further clarity on the path of interest rates.

Asia:Asia-Pacific markets were largely lower on Tuesday, following a similar session on Wall Street as investors look ahead to Big Tech earnings later this week.

India:Indian shares rose around 0.7% on Monday led by financials and banking stocks after improved quarterly results from heavyweights Reliance Industries Ltd and ICICI Bank Ltd let investors shrug off concerns of a lacklustre earnings season

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

Global Economy: Mexican inflation slowed in the first half of April and reached its lowest level in a year and a half, fueling expectations the central bank may have completed a long cycle of interest rate hikes. Annual headline inflation through midApril hit 6.24%, further declining from the 17-month low of 6.85% hit across March and the lowest since the first half of October 2021, when the rate was 6.12%. The South Korean economy grew largely as expected in the first quarter of 2023, avoiding a potential recession as steady private consumption helped offset a slump in capital investment. South Korea’s GDP grew at an annualized 0.8% in the three months to March 31. The reading was slightly less than Reuters estimates for growth of 0.9% and the prior quarter’s reading of 1.3%.GDP grew a slightly bigger-than-expected 0.3% from the prior quarter, after contracting 0.4% in the fourth quarter of 2022. A recession is usually defined by two consecutive quarters of negative growth.

Commodities: Gold prices rose on Tuesday, extending a recovery into a third straight session as the dollar fell amid bets that the Federal Reserve could pause its rate hike cycle by as soon as June. Oil prices slipped in early trade on Tuesday, paring gains from the previous session, as investors weighed strong holiday travel in China that could boost fuel demand with the prospect of rising interest rates elsewhere slowing economic growth.

Currency: The dollar was on the back foot and the euro climbed on Tuesday, as regional bank jitters had traders expecting U.S. interest rate cuts before long, while in Europe a 50 basis point hike remains a live option at next week's central bank meeting.

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