Market is expected to open on a flattish note and likely to witness positive move during the day - Nirmal Bang Ltd
Market Review
US:
U.S. stock index futures moved little on Wednesday evening as Wall Street steadied after four days of steep losses, although sentiment remained frail amid concerns over trade tariffs and the economy.
Asia:
Asia Pacific region were mixed on Thursday, following new tariff announcements from US President Donald Trump on European Union.
India:
Indian benchmark indices ended Tuesday's session mixed, with the metal sector declining the most, while media emerged as a top sectoral gainer. Market is expected to open on a flattish note and likely to witness positive move during the day.
Global economy:
U.S. President Donald Trump on Wednesday said that Environmental Protection Agency Administrator Lee Zeldin is planning to cut 65% of his agency's workforce, a move that came as a surprise to agency staff. Trump revealed the potential EPA staff reduction at the first meeting of his cabinet, where his downsizing czar Elon Musk pledged that he would move quickly to slash federal spending.
British Prime Minister Keir Starmer will on Sunday host leaders of Italy, Germany, Poland and other allies - possibly including Ukrainian President Volodymyr Zelenskiy - to discuss their response to Donald Trump's push for peace in Ukraine. The U.S. president has forced a radical rethink of European security, blindsiding leaders by telling them they must raise defence spending and take responsibility for their own security.
Commodities:
Oil prices edged up from two-month lows on Thursday after U.S. President Donald Trump announced a reversal of a license given to Chevron to operate in Venezuela, potentially tightening crude supply.
Gold prices slightly increased on Thursday due to ongoing concerns over President Trump’s tariff policies. Investors are also waiting for a key U.S. inflation report to gauge the Federal Reserve's next moves. Trump hinted at a potential delay in new tariffs on imports from Mexico and Canada.
Currency:
The U.S. dollar firmed above an 11-week trough on Thursday as vague pledges from President Donald Trump to impose tariffs on Europe and further delays to levies planned for Canada and Mexico stoked uncertainty.
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