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Market Review

US: US stocks ended mixed on Monday. Nasdaq lost close to 1.20% and S&P closed lower by 0.39% reversing morning gains due to weakness in mega-caps like Tesla, Amazon and Apple. On the flip side, Dow managed to stay just above flat line.

Asia: Shares in Asia-Pacific were largely higher in Tuesday morning trade, with Hong Kong stocks leading gains regionally

India:Indian equity markets ended a choppy day in the positive zone on Monday, rising for the first time in seven days, as global markets supported the trading sentiment

Market is expected to open on flattish note and expected to trade sideways during the day

Global Economy: : China's retail and factory activity fell sharply in April as wide COVID-19 lockdowns confined workers and consumers to their homes and severely disrupted supply chains, casting a long shadow over the outlook for the world's second-largest economy. Full or partial lockdowns were imposed in major centres across the country in March and April, including the most populous city Shanghai, hitting production and consumption and heightening risks for those parts of the global economy heavily dependent on China

The European Central Bank is expected to raise the deposit rate for the first time in over a decade in July and bring it out of negative territory at its following meeting in September, despite a 30% chance of recession within a year. With inflation hitting a multi-decade high of 7.5% in April and almost every other major central bank having already raised interest rates, ECB President Christine Lagarde backed calls for an early rate hike by policymakers last week

Commodities: Oil prices opened lower in early Asian trade on Tuesday after the European Union's efforts to enact a ban on Russian oil imports, a move that would tighten global supply, ran into resistance from member country Hungary.

Gold prices were steady on Tuesday as a pullback in the dollar supported demand for greenback-priced bullion, although the metal's strength was partially offset by a recovery in U.S. Treasury yields.

Currency:The dollar fought for a footing on Tuesday and the tumbling Chinese yuan found a floor as investors trimmed bets on whether U.S. interest rate rises will drive further dollar gains.

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