Market is expected to open on a flattish note and likely to witness a range bound move during the day - Nirmal Bang Ltd
Market Review
US:
Markets closed slightly lower as traders sifted through a trove of trade-related news, including a warning from President Trump that there won’t be any extensions to the new Aug.
Asia:
Markets started on a cautious note as investors refrained back from taking risky bets after Trump ruled out extending his August levy deadline.
India:
Markets ended in the green on Tuesday even as many traders remained on the sidelines awaiting clarity on US and India trade deal. Market is expected to open on a flattish note and likely to witness a range bound move during the day.
Global Economy:
China’s car sales rose 18.6% YoY in June to 2.1 million units, marking the fifth straight month of growth. H1 2025 sales grew 11.2% to 11.1 million vehicles. The data signals sustained recovery and strong momentum in the automotive sector, driven by improved demand and market confidence.
China's CPI rose 0.1% YoY in June, defying expectations of a decline, aided by subsidies and e-commerce events. However, PPI fell 3.6% YoY, marking the 33rd straight month of contraction, highlighting persistent deflationary pressures. Weak consumer sentiment and sluggish manufacturing persist amid trade tensions and limited policy support.
In a surprising turn, the American Petroleum Institute (API) reported a sharp rise in weekly crude stocks, with inventories up by 7.1M barrels vs an expected drop of 2.8M. This unexpected build signals weaker demand and is bearish for crude prices. API data on crude, gasoline, and distillate stocks offers a key snapshot of US oil consumption, which appears to be slowing.
Commodities:
Oil prices edged slightly lower on Wednesday after rising to two-week highs in the previous session, as investors were watching new developments on U.S. tariffs and trying to gauge their impact.
Gold edged higher on Wednesday as U.S. President Donald Trump's latest tariff threats dampened hopes for trade talks, but a stronger U.S. dollar and higher Treasury yields capped gains.
Currency:
The dollar rose for a third day against the yen on Wednesday as U.S. President Donald Trump pledged more trade-related proclamations after announcing 25% tariffs on Japan and other trade partners.
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India VIX decreased by 2.09% to close at 11.94 touching an intraday high of 12.36 - Nirmal ...
