IGI Logo

Market Review

US:

U.S. stocks closed solidly lower Friday and the Dow booked the worst decline of the month so far, as investors assessed the economic impact of the spread of the coronavirus omicron variant and the most recent moves by central banks around the globe.

Asia:

Asian share markets fell and oil prices slid on Monday as surging Omicron cases triggered tighter restrictions in Europe and threatened to drag on the global economy into the new year.

India:

Bears forced domestic markets to close in red on Friday.S&P BSE Sensex ended 889 points or 1.54% lower at 57,011 while NSE Nifty 50 closed 263 points or 1.53% lower at 16,985. Bank Nifty closed 2.54% in red at 35,618. Broader markets fared worse closing more than 2% in red. Market is expected to open gap down and likely to witness selling pressure during the day.

Global Economy:

China cut its lending benchmark loan prime rate (LPR) for the first time in 20 months on Monday, matching market expectations, in a bid to prop up the slowing economy. The one-year LPR was lowered by 5 basis points to 3.80% from 3.85% previously, while the five-year LPR remained at 4.65%. The reduction marks the first LPR cut since April 2020. Euro zone inflation surged to its highest rate on record in November, with more than half of the increase due to a spike in energy prices. Eurostat said inflation in the 19 countries sharing the euro rose to 4.9%, a year-on-year surge in line with an earlier Eurostat estimate. Month-on-month, the increase was revised down to 0.4% from a previously reported 0.5%

Commodities:

Oil prices slumped by about 2% early on Monday as surging cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new restrictions on businesses to combat its spread may hit fuel demand. Gold prices edged higher on Monday, hovering near a threeweek high hit in the previous session, as fears over the rapidly spreading Omicron coronavirus variant boosted the metal's safe-haven appeal.

Currency

The U.S. dollar hovered near the highest since July of last year against major peers on Monday after a Federal Reserve official signaled a first pandemic-era interest rate hike could come as early as March.

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