IGI Logo

Market Review

US:

Wall Street's main indexes closed lower on Wednesday, with the NASDAQ leading declines, as technology stocks slumped on Thanksgiving evening.

Asia:

Asia-Pacific markets traded mixed on Thursday after Wall Street rally stalled overnight and as investors assessed a surprise interest rate cut by South Korea.

India:

The benchmark equity indices settled higher on Wednesday, mirroring their global peers. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

The U.S. economy has received an unexpected boost with the recent announcement of an increase in Durable Goods Orders. The actual number recorded was a 0.2% rise, a stark contrast to the forecasted decrease of -0.8%. The forecast had predicted a further contraction in Durable Goods Orders, following a previous decrease of -0.4%. However, the actual figures released showed a reversal of this trend, with a 0.2% increase.

The Chicago Purchasing Managers' Index (PMI), a key indicator of the economic health of the manufacturing sector in the Chicago region, has reported a figure of 40.2. This latest figure falls below the forecasted number of 44.9, hinting at a contraction in the manufacturing sector. The PMI index is a critical bellwether for the manufacturing sector. A reading above 50 signifies expansion, while a number below 50 indicates contraction.

Commodities:

Oil prices edged lower in Asian trading on Thursday, after a surprise jump in U.S. gasoline stocks ahead of the nation's Thanksgiving holiday sparked worry over demand in the top consumer of the motor fuel.

Gold prices were steady on Thursday, as investors digested a flurry of economic data in the previous session and evaluated the possibility of a tariff war sparked by U.S. President-elect Donald Trump's policies.

Currency:

The dollar fell broadly on Wednesday in thin preholiday trade, digesting a slew of indicators that underscored U.S. economic resilience while investors assessed the risk that President-elect Donald Trump will start a tariff war no one will win.

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