IGI Logo

Market Review

US:

A rally in US stocks faded at the end of a turbulent month on Wall Street as equities experienced only modest movements on Friday. Despite the volatility in global markets, August is concluding on a relatively calm note.

Asia:

Most markets in Asia-Pacific region fell on Monday after data from China showed factory activity slowed in the economy despite government's recent efforts. Most countries in Asia Pacific conduct substantial business with the world's second largest economy.

India:

India's benchmark stock indices ended at a record closing high on Friday, with the Nifty 50 extending gains for the 12th consecutive session, marking the best rally since its launch in 1996. Sensex rose for the ninth consecutive session. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

South Korea's exports rose for an 11th straight month in August, but the pace of growth was weaker than the previous month and market expectations as demand for computer chips slowed, while auto sales remained sluggish. Overseas sales by Asia's fourth-largest economy rose 11.4% year-on-year to $57.90 billion, trade data showed on Sunday, slowing from a gain of 13.9% in the previous month, which was the fastest in six months. Growth in semiconductor exports slowed to a five-month low, while auto sales fell for a third consecutive month due to temporary factors, such as wage negotiations and factory suspensions to improve production lines at some firms. By destination, exports to China rose at a slower pace, but growth in U.S.-bound shipments quickened. Exports to the European Union snapped a six-month run of declines and surged 16.1% to a record high of $6.4 billion.

Commodities:

Oil prices extended losses on Monday with investors weighing higher OPEC+ production from October against a sharp drop in output from Libya amid sluggish demand in China and the U.S., the world's two biggest oil consumers. Gold prices held steady on Monday after a 1% decline in the previous session, driven by U.S. inflation data indicating a smaller-than-expected interest rate cut by the Federal Reserve. Spot gold remained at $2,502.89 per ounce, while U.S. gold futures saw a slight rise. Key market data and geopolitical issues are under investors' watch.

Currency:

The dollar reached a two-week high against the euro on Monday as traders adjusted expectations for Federal Reserve policy. With inflation steady and unemployment data pending, the likelihood of a smaller rate cut increased. Analysts anticipate a crucial U.S. jobs report on Friday.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766