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US:

The Dow Jones Industrial Average posted solid gains on friday. Stocks recovered from the prior day's sell-off over President Joe Biden's proposed increase in the capital gains tax rate on wealthy individuals, and an income tax rate hike. All the major indexes were higher as the Nasdaq led with a gain of 1.4%.

Asia:

Shares in major Asia-Pacific markets were mixed in Monday morning trade as investors continue to watch the Covid situation in India.

India:

Spooked by the strong second wave of Covid-19 and its impact on India's economic recovery, the stock markets plunged in Friday's session, although, a firm global market sentiment helped contain the downside. India on Friday reported over 3 lakh cases for the second straight day, a new record for any country in the world. To control the spread, many states have imposed lockdown-like restrictions which experts worry could harm the GDP growth. Amid this backdrop, the BSE Sensex settled the day 202 points down at 47,878.Market is expected to open gap up and likely to witness positive move during the day.

% Sugar ($/MT) 461.2 462.4 -1.2 -0.3% Rubber (Rs./kg) 163.0 162.0 1.0 0.6% Baltic Dry Index 2788 2750 38.0 1.4% Currency Exchange Rate Current Previous Var(%) Rs./$ rate 75.02 74.95 0.09% Rs./ Euro 90.45 90.24 0.23% Rs./Chinese Yuan 11.56 11.55 0.13% Yen /$ rate 107.74 107.88 -0.13% $ US/Euro 1.21 1.21 0.11% Dollar Index Current Previous Var(%) Dollar Index 90.72 90.86 -0.15% Support/ Resistance Levels for Today Nifty Bank Nifty Fut Support 1 14250 31370 Support 2 14170 31000 Resistance 14500 32150 Securities in Ban For Trade IBULHSGFIN SUNTV Market Review US: The Dow Jones Industrial Average posted solid gains on friday. Stocks recovered from the prior day's sell-off over President Joe Biden's proposed increase in the capital gains tax rate on wealthy individuals, and an income tax rate hike. All the major indexes were higher as the Nasdaq led with a gain of 1.4%. Asia: Shares in major Asia-Pacific markets were mixed in Monday morning trade as investors continue to watch the Covid situation in India. India: Spooked by the strong second wave of Covid-19 and its impact on India's economic recovery, the stock markets plunged in Friday's session, although, a firm global market sentiment helped contain the downside. India on Friday reported over 3 lakh cases for the second straight day, a new record for any country in the world. To control the spread, many states have imposed lockdown-like restrictions which experts worry could harm the GDP growth. Amid this backdrop, the BSE Sensex settled the day 202 points down at 47,878. Market is expected to open gap up and likely to witness positive move during the day. Global Economy: U.S. factory activity powered ahead in early April, though manufacturers increasingly struggled to source raw materials and other inputs as a reopening economy leads to a boom in domestic demand, which could slow momentum i in the months ahead. U.S. manufacturing PMI increased to 60.6 in the first half of this month. That was the highest reading since the series started in May 2007 and followed 59.1 in March.

The euro zone's recovery from its pandemic-induced economic downturn was much stronger than expected in April as the service industry adapted to lockdowns and made a surprise return to growth. Composite PMI rose to a nine month high of 53.7 from March's 53.2, confounding expectations for a dip to 52.8.

Commodities:

Oil prices eased slightly on Monday on concerns that a resurgence of coronavirus infections in India and Japan, the world's third and fourth largest oil importers, would cut fuel demand in Asia. Gold prices inched higher on Monday, helped by a soft dollar ahead of the U.S. Federal Reserve policy meeting this week.

Currency:

The dollar nursed losses against most currencies on Monday amid speculation that U.S. Federal Reserve Chairman Jerome Powell will shun talk of tapering bond purchases at a policy meeting this week.

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