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Market Review

US:

Wall Street's main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session. Markets in US were closed on Wednesday on account of Christmas.

Asia:

Asia shares rose slightly in holiday-thinned trade on Thursday, extending gains from earlier in the week with little news or data in the way to alter their direction of travel

India:

In a volatile session, the benchmark indices ended with marginal losses on December 24, with the Nifty above 23,700 amid buying seen in the auto, oil & gas, and FMCG names. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

A leading indicator of Japan's service-sector inflation rose to 3.0% in November, accelerating for a second straight month, backing up the central bank's view that rising wages are prodding more firms to pass on higher costs. The November year-on-year gain in the services producer price index, which measures the price companies charge each other for services, accelerated from a 2.9% gain in October. The index, at 109.1, marked the highest level since March 1995. The increase was driven by higher prices for a variety of services, ranging from accommodation to machinery repair to construction.

Russia's inflation has reached 9.5% this year, according to new weekly data showing that the consumer price index rose by 0.33% in the week leading up to Dec. 23, the statistical agency Rosstat reported on Wednesday. This data follows the central bank's unexpected decision last week to maintain its key interest rate at 21%. The regulator said recent tightening has created conditions conducive to reducing inflation towards its target of 4%.

Commodities:

Oil prices edged higher on Thursday in thin holiday trading, driven by hopes for additional fiscal stimulus in China, the world's biggest oil importer, while an anticipated decline in U.S. crude inventories also provided support.

Gold inched higher on Thursday in holiday-thinned trade, as investors focused on the U.S. Federal Reserve's interest rate strategy and anticipated tariff policies under President-elect Donald Trump, both of which could influence the metal's direction in the coming year.

Currency:

The dollar was perched near a two-year high against a basket of currencies at 108.15 , and was on track for a monthly gain of more than 2%.

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