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Market Review

US:

The S&P 500 and Dow Jones Industrial Average notched record closing highs in a shortened Black Friday session, lifted by technology stocks such as Nvidia, opens new tab, while retail was in focus as the holiday shopping season kicked off.

Asia:

Stocks in the Asia-Pacific region gained on Monday's early session following a record monthly closing on Wall Street. Emerging economies' currencies will be in focus after US President-elect Donald Trump demanded a commitment from the BRICS nations on using the Dollar.

India:

Benchmark equity indices gained for a second consecutive week adding nearly 3% in two weeks. On Friday, both the indices recovered from their steep falls in the previous session as Bharti Airtel Ltd. and Reliance Industries Ltd. shares contributed the most. Market is expected to open on a flattish note and likely to witness range bound move during the day. Global economy: Japanese corporate spending on plant and equipment accelerated in the third quarter, signalling that solid domestic demand was underpinning the country's fragile economic recovery and strengthening the case for further increases in interest rates. Capital spending surged 8.1% yoy in Q3, accelerating from the previous quarter's 7.4% gain and the strongest showing since a 16.4% jump for quarter Dec’23.

U.S. President-elect Donald Trump on Saturday demanded that BRICS member countries commit to not creating a new currency or supporting another currency that would replace the United States dollar or face 100% tariffs.

China’s manufacturing sector grew at a faster-than-expected pace in November, as a slew of recent stimulus measures from Beijing appeared to be bearing fruit. The Caixin Manufacturing PMI read 51.5 for November, much higher than expectations for a reading of 50.6, and the prior month’s reading of 50.3. The stronger print was driven by improved local and overseas demand.

Commodities:

Oil prices drifted higher in Asian trade on Monday following some positive economic readings from top importer China, with focus turning to an upcoming OPEC+ meeting for more cues on supplies.

Gold prices slipped on Monday, snapping a four-session rally as the dollar firmed, while market participants awaited key U.S. economic data for clues on the Federal Reserve's monetary policy outlook.

Currency:

The dollar index gained, making bullion costlier for holders of other currency.

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