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Market Review

US:

Wall Street continued its upward trend as riskier segments of the stock market received an additional boost on Friday. All major sectors in the S&P 500 saw gains, fuelled by optimism that the Fed's potential easing cycle will enhance prospects for corporate America.

Asia: Markets in the Asia-Pacific region rebounded from a threeday decline on Monday as investors await policy decisions from several central banks, due to be published this week.

India India's benchmark equity indices snapped five consecutive days of fall to end at their highest closing levels on Friday. On a weekly basis, the Nifty recorded its best streak of weekly gains since eight weeks ended Jan. 22, 2018. Market is expected to open gap up and likely to witness positive move during the day.

Global Economy:

Profits at China's industrial firms rose 3.5% in the first half of 2024 compared with the same period in 2023, official data showed on Saturday. The rise followed a 3.4% rise for January-May. The data covers firms with annual revenues of at least 20 million yuan ($2.75 million) from their main operations. China's economy expanded much more slowly than expected in the second quarter of 2024, the latest GDP data showed this month, reflecting sluggish domestic demand and a protracted property downturn. Vietnam received foreign investment inflows of $12.55 billion from the start of the year to July 20, up 8.4% from the corresponding period a year earlier, the planning and investment ministry said on Saturday. Foreign investment pledges, which indicate the size of future inflows, rose 10.9% in the period to $18 billion. 70% of Foreign investment pledges were to be invested in manufacturing and processing, while 16% targeted real estate. Singapore was the top source of foreign investment pledges, followed by Hong Kong and Japan.

Commodities Gold prices rose on Monday amidst expectations of a U.S. rate cut in September and heightened Middle Eastern tensions. The Indian market saw high gold premiums due to slashed import duties. Oil prices rose on Monday, paring last week's loss, on fears of a widening conflict in the Middle East following a rocket strike in the Israeli-occupied Golan Heights, which Israel and the United States blamed on Lebanese armed group Hezbollah.

Currency The yen ticked lower on Monday after a week when it surged to its strongest in 12 weeks against the dollar, as a recovery in equity markets sapped demand for the currency as a safe haven

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