Indian benchmarks rose for the fifth week to record the best streak of weekly gains in over six months by Nirmal Bang Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Market Review
US: The US stock market ended the week at all-time highs with traders focusing on prospects for Federal Reserve rate cuts.
Asia: Most markets in Asia-Pacific region were trading lower with Hong Kong's Hang Seng falling the most by over 1%. Japan's Nikkei and South Korea's Kospi traded 0.1% lower.
India: Indian benchmarks rose for the fifth week to record the best streak of weekly gains in over six months. Meanwhile, the indices erased loss during the last leg of trade on Friday, tracking gains in shares of RIL, SBI, and L&T. Market is expected to open on a flattish note and likely to witness range bound move during the day.
Global economy: Japan's current account surplus grew for the 15th straight month in May as a record primary income surplus more than offset the trade deficit, the Ministry of Finance said on Monday, reflecting an ongoing shift of the country's sources of earnings. The current account grew to 2.85 trillion yen ($17.74 billion) in May, compared with a median forecast from economists for a surplus of 2.45 trillion yen and the prior month's 2.05 trillion yen surplus. The U.S. economy added more jobs that anticipated in June, although the figure was lower than the prior month, pointing to a possible cooling in labor demand in the world's largest economy. Nonfarm payrolls came in at 206,000 last month, down from 218,000 in May, according to Labor Department data on Friday. The May reading was also revised down heavily from an initial mark of 272,000, while April's was lowered by 57,000 to 108,000.
Commodities: gold prices held near one-month highs at $2,385 an ounce. Oil prices moved sideways in Asian trade on Monday as traders watched for the impact of tropical storm Beryl on oil production in the Gulf of Mexico, while focus also remained on more signs of strong summer demand.
Currency: The U.S. dollar retreated in early European trade ahead of the key monthly jobs report, while sterling edged higher after the result of the U.K general election.
Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766
