IGI Logo

Market Review

US: US dragged by rising Treasury yields and disappointing set of corporate earnings.

Asia: Asian markets traded lower tracking overnight losses in the US stocks.

India: The domestic indices ended in the negative territory for the fifth consecutive session on Wednesday amid concerns over the ongoing Israel-Hamas war while unimpressive Q2 earnings and gains in US Treasury yields also weighed on sentiment. Market is expected to open gap down and likely to witness selling pressure during the day

Global Economy: Sales of new U.S. single-family homes surged to a 19-month high in September as the annual median house price dropped by the most since 2009 amid discounts offered by builders to woo buyers, but mortgage rates flirting with 8% could curb demand. A chronic shortage of previously owned houses is driving buyers to new construction, a situation that builders are taking advantage of by giving a range of incentives to improve affordability.

Hong Kong will slash stamp duties for property buyers to help boost its struggling real estate sector, while reducing levies on stock trades in a bid to kick start economic activity in the Asian financial hub. This is the first time property cooling measures in a variety of stamp duties known as “spicy policies” will be relaxed. They were first introduced in 2010 to curb red-hot property prices in a low interest rate environment.

Commodities: Gold prices edged up on Thursday as the MiddleEast conflict kept investors worried, with bullion standing firm despite a stronger U.S. dollar and bonds yields. Oil prices were little changed on Thursday as the market weighed mixed drivers, eyeing tensions in the Middle East while digesting a rise in US crude stockpiles.

Currency: The dollar was firm on Thursday, hovering near a oneweek high as Treasury yields rose and investor appetite for riskier currencies dimmed, while the yen breached 150 per dollar to keep traders jittery about the prospect of intervention.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx

SEBI Registration number is INH000001766