Market is expected to open on a flattish note and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review
US: U.S. equities suffered big losses Tuesday after President Donald Trump intensified his rhetoric on Greenland, threatening to impose new tariffs on countries opposing the sale of the Danish territory to the United States.
Asia: Asian stocks extended their losses on Wednesday, tracking the Wall Street selloff, as tensions between the US and Europe over Greenland sparked fears of a trade war. Asian stocks dropped 0.5% at the open after the S&P 500 posted its steepest loss since October.
India: Indian equities ended the volatile session in the red, extending the fall for the second day. Nifty had fallen below the 25,200 levels but closed above it. Market is expected to open on a flattish note and likely to witness range bound move during the day.
Global economy: U.S. President Donald Trump said on Tuesday that his administration could issue a $2,000 payout to American citizens without Congressional approval, based on income received from his trade tariffs.We will be able to make a very substantial dividend to the people of our country. Japan should act decisively against excessive market moves, such as by buying back government bonds or reducing issuance of super-long notes, Yuichiro Tamaki, head of an influential opposition party, told Reuters on Wednesday.Market volatility is heightening significantly with somewhat abnormal moves seen," Tamaki said in an interview, when asked about the recent sharp selloff in Japanese government bonds (JGB).
Commodities: Crude oil prices dipped on Wednesday, with West Texas Intermediate falling as geopolitical tensions and anticipated U.S. inventory builds overshadowed a temporary output halt in Kazakhstan. Despite a brief rally on strong China data and the Kazakh field shutdowns, broader market pressures are expected to persist, impacting global oil markets.
Gold prices have reached a new peak above $4,800. This surge is driven by safe-haven demand and a weaker US dollar. Geopolitical tensions are rising following President Donald Trump's Greenland takeover bid. Allies have threatened measures. The dollar is weakening against other currencies. This makes gold cheaper for international buyers.
Currency: Most Asian currencies kept to a tight range on Tuesday, while the dollar retreated as U.S. President Donald Trump’s continued demands for Greenland spurred caution towards American assets.
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