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Market Review

US:

All three major U.S. stock indexes ended more than 1% lower on Wednesday as oil prices jumped and Western leaders began gathering in Brussels to plan more measures to pressure Russia to halt its conflict in Ukraine.

Asia:

Asian shares fell on Thursday, while the sell-off in U.S. Treasuries paused and oil prices rose, as investors and traders weighed the latest developments in the Ukraine war and more hawkish comments from U.S. Federal Reserve officials.

India:

In a choppy session on Dalal Street, Sensex closed over 300 points lower at 57,684.82 while NSE Nifty closed at 17,245.65 was below the 17,300 levels. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global Economy:

Japan's manufacturing activity sped up in March from the prior month as a reduction in COVID-19 cases in the country helped lift orders and production, however, surging input prices and Russia's war in Ukraine clouded the outlook. Activity in the services sector, which has been battered by the pandemic, contracted for the third straight month, but the pace of decline slowed. Euro zone consumer confidence fell by 9.9 points in March from the February number. The European Commission said a flash estimate showed euro zone consumer morale decrease to -18.7 this month from -8.8 in February. Sales of new U.S. single-family homes unexpectedly fell in February amid rising mortgage rates and higher house prices, which are squeezing out some first-time buyers from the market. Despite the second straight monthly decline, sales remained above their pre-pandemic level

Commodities:

Oil futures extended gains on Thursday morning, after sharply rising in the first portion of the week, as traders weighed additional supply disruptions following reports of storm damage at a major export terminal system on the Black Sea. Gold prices were unchanged on Thursday as the dollar gained and yields hovered near multi-year peaks, offsetting support from an escalation in the Ukraine crisis

Currency:

The dollar held gains, while commodity-linked currencies firmed.

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