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:
The US stocks tumbled and interest rates spiked Wednesday after consumer prices rose more than expected in January, raising concern that inflation may reignite.
Asia:
Asian stocks rose on Thursday as an artificial intelligencefueled rally in China and reports of deal making activity in Japan's technology sector helped offset headwinds from hot U.S. inflation data
India:
Benchmark Indian equity indices ended Wednesday's choppy session in the negative territory due to rising uncertainty in global and domestic markets coupled with falling rupee and fund outflows. Market is expected to open on a flattish note and likely to witness range bound move during the day.
Global economy:
The U.S. Federal Budget Balance, a key indicator of the nation's fiscal health, has reported a deficit significantly larger than anticipated. The actual number stands at a deficit of $129.0 bn, a figure that has triggered concern among economists and policymakers. This figure starkly contrasts with the forecasted deficit of $88.1 bn, marking a deviation that is far from negligible. Japan's annual wholesale inflation jumped to a seven-month high of 4.2% in January and accelerated for the fifth straight month, highlighting persistent price pressures and reinforcing market bets of another interest rate hike this year.
Commodities:
Oil prices fell on Thursday on expectations a potential peace deal between Ukraine and Russia would mean the end of sanctions that have disrupted supply flows and U.S. President Donald Trump's intention to introduce reciprocal tariffs stoked inflation jitters.
Gold prices edged up on Thursday, as markets tracked developments in U.S. President Donald Trump's tariff plans, which could ignite a global trade war, while investors awaited U.S. inflation data due later in the day
Currency:
The U.S. dollar held near a one-week high against the Japanese yen on Thursday after a hotter-than-expected consumer prices reading, while the euro was shored up by news that Washington aims to begin talks with Russia to end the war in Ukraine.
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Market is expected to open on a flattish note and likely to witness range bound move during ...
