IGI Logo

Market Review

US: Wall Street's main indexes closed lower after choppy trading on Thursday The S&P 500 is down 2.7% over the past three sessions, its deepest three-session drop since mid-March. The Nasdaq's 3.4% drop over three days marks its deepest three-day drop since February.

Asia: Most Asian stocks kept to a tight range on Friday amid persistent fears of rising U.S. interest rates, although signals of more Chinese stimulus measures helped local shares mark some gains.

India: The BSE Sensex dropped 388 points to close the previous session at 65,151 points, while the Nifty50 closed 99 points lower at 19,365 points, trading near its 200-day moving average of 19,599 points and trying to sustain the ongoing momentum. Market is expected to open with gap down and is likely to remain under selling pressure during the day

Global Economy: The number of Americans filing new claims for unemployment benefits fell last week, pointing to continued tightness in the labor market even as job growth slows. Initial claims for state unemployment benefits dropped 11,000 to a seasonally adjusted 239,000 for the week ended Aug. 12, reversing half of the surge in the prior week, the Labor Department said on Thursday. Japan's core consumer inflation slowed in July but stayed above the Bank of Japan's (BOJ) price target for the 16th straight month, with cost-push inflation likely to keep the central bank from rushing to phase out monetary easing anytime soon.

Commodities: Gold edged up from 5-month lows on Friday as the U.S. dollar and bond yields slightly fell from highs, but bullion was set for its fourth consecutive weekly decline on concerns over the Federal Reserve's higher-for-longer interest rate outlook. Oil prices rose in Asian trade on Friday, but were set to snap a seven-week winning streak as fears of a Chinese economic slowdown and rising U.S. interest rates clouded the outlook for demand.

Currency: On Friday, however, the dollar trimmed some of those gains as its rally against the yen kept traders on edge against the risk of intervention, and the yuan edged up after the People's Bank of China set a much-stronger-than-expected daily fixing.

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