IGI Logo

Market Review

US: US stock indices rallied on Tuesday after Federal Reserve officials on Monday indicated that rising yields on long-term US treasury bonds could steer the central bank from further raising interest rate in the short term.

Asia: Asia's stockmarkets rose on Wednesday and the dollar beat a retreat as a dovish shift in tone from Federal Reserve officials had traders paring U.S. interest rate expectations, though with a wary eye on U.S. inflation data due on Thursday.

India: India's benchmark stock indices ended nearly two weeks high on Tuesday, led by advances in ICICI Bank Ltd. and Infosys Ltd.

Market is expected to open gap up and likely to witness positive move during the day. 

Global Economy: UK consumer card spending saw a 4.2% yearon-year increase in September.This is a notable improvement from August's growth of 2.8%, though it still falls short of the 6.3% Consumer Price Index including owner occupiers' housing costs (CPIH) inflation rate.

Egypt's annual urban consumer price inflation rose to a historic high of 38.0% in September, climbing from 37.4% in August .It was the fourth consecutive month of record highs recorded on the central bank website, which has figures going back to 2000, with food and drink prices leading the rise.The previous high, before inflation soared in June, was 32.95% recorded in July 2017.Inflation also accelerated on a monthly basis, with prices rising by 2.0% compared with a 1.6% increase in August, Allen Sandeep of Naeem Brokerage said. It was their fastest pace of increase since June

Commodities: Gold prices held near their highest levels in more than a week on Wednesday as comments from U.S. Federal Reserve officials suggested that a recent surge in Treasury yields might reduce the need for more rate hikes, sending the dollar lower.

Oil prices were little changed in early Asian trade on Wednesday, as concerns eased about potential supply disruptions due to the conflict between Israel and the Palestinian Islamist group Hamas

Currency: The dollar dipped broadly on Wednesday, tracking a slide in U.S. Treasury yields weighed down by dovish Federal Reserve comments, as traders looked to the central bank's policy meeting minutes out later in the day for clues on its interest rate outlook.

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

SEBI Registration number is INH000001766