IGI Logo

Market Review

US:

Wall Street ended a light-volume post-Christmas session nearly unchanged on Friday, with few catalysts to fuel much conviction one way or the other.

Asia:

Asian stocks were at six-week highs on Monday, while the dollar hovered near its lowest in almost three months on expectations of the Federal Reserve cutting interest rates next year, which have also sparked a fierce rally in precious metals.

India:

Indian benchmark indices Sensex and Nifty closed lower on Friday as investors pared positions near record highs, with thin year-end trading and continued foreign outflows tempering risk appetite. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

China’s finance ministry on Sunday said fiscal policies will be more proactive next year, reiterating its focus on domestic demand, technological innovation and a social safety net. The statement comes as trading partners urge the world’s second-biggest economy to reduce its reliance on exports, underscoring the urgency to revive confidence at home where a prolonged property crisis has rippled through the economy, weighing on sentiment.

Canadian Prime Minister Mark Carney on Saturday announced an additional $2.5 bn of economic aid for Ukraine. The assistance will help Ukraine unlock financing from the International Monetary Fund, Carney said during an appearance with Ukrainian President Volodymyr Zelenskiy, who also spoke briefly to reporters.

Russia’s central bank said on Friday that it will halve its own forex interventions from the new year in an expected move that will take away some support for the rouble in 2026, with economists expecting the rouble to weaken.

Commodities:

Oil prices rose in early Asian trading on Monday as investors weighed Middle East tensions that could disrupt supply, while a major hurdle remains in the Russia-Ukraine peace talks.

Silver surged past $80 an ounce, reaching an all-time high, driven by supply constraints, robust industrial demand, and expectations of U.S. interest rate cuts. Platinum also hit a record, while gold saw a slight dip after its own record-breaking session.

Currency:

The yen recovered some ground on Monday following a steep drop at the end of last week as markets weighed the timing of more interest rate hikes in Japan and the possibility of intervention in thin end-of-year trading.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176