IGI Logo

Market Review

US:

US major indices traded flattish with Dow Jones Industrial Average ending slightly below the flat line, while the S&P 500 notched up by 0.14%, and the Nasdaq Composite gained 0.34%.

Asia:

Most markets in Asia-Pacific region on Wednesday declined as traders await the release of US CPI data for March. The inflation print will give fresh cues about the Federal Reserve's rate outlook moving ahead.

India:

Indian headline indices ended in the red on Tuesday after hitting fresh lifetime highs, dragged by selling pressure in auto and FMCG stocks. The S&P BSE Sensex hit a fresh lifetime high of 75,124.28 in early trade before ending the session at 74,684, down 59 points 0.08%. The broader Nifty scaled a new peak of 22,765.30 but settled at 22,643, lower by 24 points or 0.1%. Market is expected to open gap up and likely to witness positive move during the day.

Global Economy:

U.S. small-business confidence slipped to the lowest level in more than 11 years in March amid rising concerns about inflation. The National Federation of Independent Business (NFIB) said its Small Business Optimism Index fell 0.9 point to 88.5 last month, the lowest level since December 2012. It was the 27th straight month the index was below the 50-year average of 98. Twenty-five percent of owners reported inflation was their single most important problem in operating their business, reflecting higher input and labor costs, up 2 points from February. The share of businesses raising average selling prices rose 7 points from the prior month. Sales of electric passenger vehicles in China rose 10.5% in March from the same month a year earlier, as automakers led by popular BYD deepened discounts and offered financing tools to boost sales. For January-March, sales totalled 1.03 million EVs, up 14.7% on year and the slowest quarterly growth since the second quarter of 2023. New energy vehicles (NEV) including allelectric models and plug-in hybrids made up 41.5% of overall passenger car sales in March, which jumped 5.7% to 1.71 million vehicles.

Commodities:

Gold on Wednesday held a record high as investors positioned for US inflation data that could help shape the Federal Reserve’s outlook on interest rates. Oil prices held steady in early trade on Wednesday after two straight days of losses, as worries about tighter supply due to uncertainty over Gaza ceasefire talks were offset by a biggerthan-expected build in US crude inventories.

Currency: 

The dollar consolidated on Wednesday as investor attention fixed on a key inflation report due out of the U.S. later in the day, while the yen remained pinned a whisker away from what markets believe to be the line in the sand for Japanese authorities to intervene.

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