IGI Logo

Market Review:

US

Market was closed yesterday

Asia:

Most Asian share markets opened a fraction higher on Tuesday, ahead of a key decision by Australia's central bank on its quantitative easing programme and despite ongoing concerns over the future regulation of China's powerful technology sector.

India:

The Sensex closed at 52,880, up 395.33 points or 0.75%, while the Nifty was at 15,834, up 112.15 points, or 0.71%. IT, pharma closed in red.Market is expected to open on a flattish note and likely to witness sideways move during the day.

Global Economy:

Japan's household spending rose at a doubledigit rate in May as consumers bought cars and mobile phones, though the pace of growth slowed from the prior month as a new wave of COVID-19 infections weighed on consumer confidence. Japan's economy is struggling to shake off the drag from the coronavirus pandemic after the government put in place "quasi-emergency" measures in Tokyo and other major areas to curb a resurgence of infections. Household spending grew 11.6% year-on-year in May, the third month of gains, after a 13.0% rise in April. That was stronger than a median market forecast for a 10.9% gain.

Euro zone businesses expanded activity at the fastest rate in 15 years in June as the easing of more coronavirus restrictions brought life back to the bloc's dominant service industry. But that surge in growth has come at a cost as inflationary pressures mounted due to labour shortages and disruptions to supply chains caused by the pandemic. IHS Markit's final composite PMI, seen as a good gauge of economic health, jumped to 59.5 last month from May's 57.1, its highest level since June 2006.

Commodities:

Oil was up Tuesday morning in Asia as the OPEC+ failed to reach a deal to increase fuel output in August after days of talks. Oil prices jump to multiyear highs after OPEC+ talks yield no production deal. Gold prices were hovering close to a two-week high on Tuesday, helped by a subdued dollar, while investors awaited minutes from the U.S. Federal Reserve's June policy meeting for more clarity on monetary policy going forward.

Currency:

The New Zealand dollar rose on Tuesday after a strong business survey pulled forward rate hike expectations there to as soon November, while its Australian counterpart crept higher ahead of its own crucial central bank policy meeting later in the day.

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