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Market Review

US:

U.S. stocks were lower after the close on Wednesday, as losses in the Technology, Healthcare and Consumer Services sectors led share slower.

Asia:

Asian stocks fell with U.S. futures Thursday after an overnight surge in bond yields once more dragged down shares on Wall Street. Treasuries steadied and the dollar strengthened.

India:

Indian equity markets posted strong gains for the third dayin a row with heavyweight Reliance Industries jumping 4.5% on winning $8billion worth of airwaves in a spectrum auction. The NSE Nifty 50 index ended2.19% higher at 15,245 while the S&P BSE Sensex closed about 1150 points higher at 51,444.65. Market is expected to open on gap down note and likely to witness profit booking during the day.

Global Economy:

U.S. private payrolls increased less than expected in February amid job losses in manufacturing and construction, suggesting the labor market was struggling to regain speed despite the nation's improving public health picture.

Part of the labor market's problems appear to be rooted in a shortage of workers. U.S. services industry activity unexpectedly slowed in February amid winter storms, while a measure of prices paid by companies for inputs surged to the highest level in nearly 12- 1/2 years, bolstering expectations for faster inflation in the near term.

The ISM said its non-manufacturing activity index fell to a reading of 55.3 last month from 58.7 in January, which was the highest since February 2019. British economic output stabilised in February after a sharp fall the month before, as many businesses continued to suffer from lockdown restrictions affecting hospitality and other face-toface services. The IHSMarkit/CIPS composite Purchasing Managers' Index gave a reading of 49.6 for February, up from an eight-month low of 41.2 in January.

Commodities:

Oil prices rose for a second straight session on Thursday, as the possibility that OPEC+ producers might decide against increasing outputat a key meeting later in the day underpinned alongside a drop in U.S. fuel inventories.. Gold prices edged up on Thursday to recover from a near ninemonth low hit in the previous session, although higher U.S. Treasury yields continued to weigh on the non-yielding bullion's appeal.

Currency:

The dollar inched up on Thursday morning in Asia afterhitting a seven-month high against the yen during the previous session.

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