The rally in global stocks faltered Thursday following disappointing earnings from technology stocks - Nirmal Bang
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Market Review
US:
All three Wall Street benchmarks ended higher on Wednesday, rising for a fourth straight session after a turbulent start to the year, aided by upbeat earnings from Google-parent Alphabet and chipmaker Advanced Micro Devices.
Asia:
Asian stocks rose Wednesday amid a recovery in U.S. shares spurred by the corporate earnings outlook and signs that Federal Reserve officials favor measured monetary-policy tightening
India:
The rally in global stocks faltered Thursday following disappointing earnings from technology stocks in the U.S. Shares fell in Japan and Australia. South Korea reopened from a holiday and pushed higher.
Economy:
Indian equity benchmarks Sensex and Nifty50 extended gains to a third straight day on Wednesday, driven by strength across sectors as investors continued to cheer the Budget. Financial, IT, consumer and oil & gas shares were the biggest contributors to the gain in headline indices, which hit two-week closing highs. The Nifty Midcap 100 and Nifty Smallcap 100 indices rose 1.2-1.4 percent for the day.Market is expected to open on flattish note and likely to witness sideways move during the day
Commodities:
Oil prices eased on Thursday following weak U.S. payrolls data and some profit taking, but remained underpinned by tight supply as OPEC+ producers stuck to planned moderate output increases. Gold prices were little changed above the key $1,800 per ounce level on Thursday, as U.S. Treasury yields retreated after a dip in U.S. jobs data.
Currency
The dollar found a footing in Asia on Thursday, pausing the week's slide as a slump in tech and social media stocks soured appetite for riskier currencies, and as traders awaited central bank meetings in Britain and Europe.
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