The Sensex was at 50,651.90, up 111.42 points, or 0.22%, while the Nifty was at15,197.70, up 22.40 points - Nirmal Bang
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Market Review
US
U.S. stocks climbed on Monday, with the Nasdaq jumping more than 1% as a retreat in U.S. Treasury yields helped lift expensive stocks insectors such as technology as investors attempt to gauge the trajectory of inflation.
Asia
Asian shares climbed in early trade on Tuesday, tracking a Wall Street rally overnight, while the dollar held near a fourthmonth low as investors tempered fears about inflation-driven rate hikes.
India:
Benchmark Indian equity indices closed higher on Monday. The Sensex was at 50,651.90, up 111.42 points, or 0.22%, while the Nifty was at15,197.70, up 22.40 points, or 0.15%. FMCG, metal were top drags. Among broader indices, the BSE midcap and smallcap closed 0.86% and 0.70% higher,respectively. Meanwhile, the Nifty micap 100 and smallcap 100 closed 0.67% and 1% higher, respectively. Market is expected to open gap up and likely to witness positive move during the day.
Global Economy:
Nigeria's economy grew 0.5% in the first quarter, lifted by higher crude production and oil prices, the country's statistics office said, as activities slowly gain momentum after the gradual easing of coronavirus lockdowns. Singapore's economy expanded more than first thought in the first quarter and the government maintained its growth forecast for the year,but struck a cautious note about recovery due to uncertainties from the COVID-19 pandemic. GDP grew 1.3% year-on-year in the first quarter, higher than the 0.2% growth seen in the government's advance estimate. Manufacturing, finance and insurance and wholesale trade supported the expansion over the quarter. Analysts had expected a 0.9% increase
Commodities:
Oil was up Tuesday morning in Asia, steadying from its gains over the past few sessions. Investors continue to assess Iran’s chances of returning to international crude markets, as well as the U.S. economy’s recovery from COVID-19 just ahead of the summer driving season. Gold steadied near the highest level in more than four months as investors weighed comments by Federal Reserve officials who sought to soothe concerns about inflation
Currency:
The dollar languished near four-month lows against major currencies on Monday as bets on a robust global economic recovery continued to support currencies seen as riskier.
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