IGI Logo

Market Review

US: The S&P 500 and Nasdaq Composite rose on Tuesday to notch their longest winning streaks in nearly two years and build on November’s rally.

Asia: Stocks in Asia traded mixed on Wednesday with oil extending declines following a report indicating American gasoline demand will drop.

India: Benchmark stock market indices ended flat on Tuesday after sliding in early trade. This was partly due to positive Q2 results, which offset the losses suffered due to weakness across Asian markets.The S&P BSE Sensex rose 16.29 points to 64,942.40, while the NSE Nifty 50 fell 5.05 points to settle at 19,406.70. Broader markets ended the session on a positive note after facing headwinds earlier in the day... Market is expected to open gap up note and likely to witness positive move during the day

Global Economy: U.S. trade deficit widened more than expected in September, making it less likely for trade to have contributed to growth in the third quarter.The trade deficit expanded 4.9% to $61.5 billion from a modestly revised $58.7 billion in August, which was the lowest level since September 2020 Japan's real wages slipped in September for an 18th month, while consumer spending extended a months-long decline, with rising prices squeezing households' purchasing power, and likely to add to pressure from labour groups for higher wage increases. Inflation-adjusted real wages, a barometer of consumer purchasing power, dropped in September by 2.4% from a year earlier after a revised 2.8% fall the month before

Commodities: GOLD prices steadied on Wednesday (Nov 8) as a retreat in US bond yields offset pressure from a stronger US dollar, while investors sought more clarity on interest rates from the US Federal Reserve after mixed commentary from the central bank officials. Oil prices fell to an over two-month low in Asian trade on Wednesday as signs of a surprise spike in U.S. inventories raised doubts over just how tight supplies would remain.

Currency: The dollar regained its footing on Wednesday and inched higher after a slew of Federal Reserve speakers left the door open to further rate hikes, as traders looked to a speech from Chair Jerome Powell on the central bank's future policy path

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

SEBI Registration number is INH000001766