IGI Logo

Market Review

US:

U.S. stocks ended lower on Thursday, with United Health down sharply and technology shares easing as investors awaited Friday's jobs report.

Asia:

Asian markets traded mixed on Friday tracking overnight losses on Wall Street.

India:

On Thursday, the Indian stock market benchmark indices ended a percent higher each, extending their winning streak for the fifth consecutive session. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

Annual benchmark revisions to U.S. nonfarm payrolls are likely to show the economy added about 668,000 fewer jobs in the 12 months through March, instead of the initially estimated 818,000, as suggested by Quarterly Census of Employment and Wages (QCEW) data for Q1.

The U.S. trade deficit contracted sharply in October as imports declined by the most since late 2022, potentially positioning trade to contribute to economic growth in the fourth quarter. The trade gap narrowed 11.9% to $73.8 billion from a revised $83.8 billion in September.

The Energy Information Administration (EIA) recently released its Natural Gas Storage report, indicating a significant drop in the number of cubic feet of natural gas held in underground storage over the past week. The report shows a decrease of 30 billion cubic feet, a figure that has taken both market analysts and energy sector stakeholders by surprise.

Commodities:

Oil prices fell in Asian trade on Friday and were set for a middling week after the OPEC+ extended its current run of supply cuts until well into 2025, highlighting increased concerns over slowing demand.’

Gold prices held steady on Friday but were headed for a second straight week of decline, while focus shifted to the U.S. payrolls data due later in the day.

Currency:

Major currencies steadied on Friday as markets considered the impact of a politically turbulent week that saw the collapse of France's government and the brief imposition of martial law in South Korea.

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