IGI Logo

Market Review

US:

On Friday, the Dow Jones Industrial Average and S&P 500 ended 0.97% and 0.35% higher, respectively. The Nasdaq Composite ended 0.16% higher.

Asia:

Markets in the Asia - Pacific rose, with the S&P ASX 200 hitting an all–time high, while traders await a slew of economic data from the region this week.

India:

The NSE Nifty 50 and BSE Sensex recorded the best session in over five months on Friday after ending with over 2% gain. Market is expected to open gap up and likely to witness positive move during the day.

Global economy:

Consumer inflation in Tokyo for November likely surpassed the Bank of Japan's 2% price target following a reduction in fuel subsidies and with an increase in food costs. CPI in Tokyo, a leading indicator of nationwide price trends, was expected to have accelerated to 2.1% in November from a year earlier, the median forecast of 1.7. That would follow a 1.8% rise in October, when it was below the central bank's target for the first time in five months.

Chinese electric vehicles are expected to see strong demand through the end of 2024, although the outlook for the first quarter of 2025 may be challenging. October sales data for China, the world’s largest EV market, showed robust growth, with retail sales of EVs surging 55% year-on-year and reaching a penetration rate of 52.9% - up from 46.7% in the same period last year. Overall, the car market also saw strong growth, with total retail sales rising 11% year-on-year in October.

Commodities:

Oil prices hovered near two-week highs on Monday following 6% gains last week, as geopolitical tensions heightened between western powers and major oil producers Russia and Iran, raising risks of supply disruption.

Gold prices ticked higher on Monday, nearing a three-week high, supported by a weaker U.S. dollar and safe-haven demand amid rising geopolitical tensions, as investors awaited more data to gauge the U.S. Federal Reserve's policy outlook.

Currency:

The Australian dollar strengthened toward $0.655 on Monday, reaching its highest level in nearly two weeks, as the US dollar weakened following President-elect Donald Trump's nomination of Scott Bessent as Treasury Secretary.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766