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Market Review

US: US stock market indices ended with strong gains on Friday led by heavyweight tech and growth stocks as Treasury yields eased.

Asia: Shares in Asia were mostly higher following a tech-driven rally Friday on Wall Street, as investors look ahead to crucial US inflation data due Tuesday.

India: Sensex and Nifty saw big gains making the beginning of Samvat 2080 auspicious during the hour-long special trading session on Diwali. Markets were in green at 6.15pm on Diwali 2023 with Sensex at 65,249 and Nifty at 19,522. In the pre-open session, Sensex rose 600 points and Nifty was around 19,600. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global Economy: Japanese wholesale inflation slowed below 1% for the first time in just over 2-1/2-years, data showed on Monday, a sign that cost push pressures that had been driving up prices for a wide range of goods were starting to fade. The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, increased 0.8% in October from a year earlier, cooling significantly from a 2.2% rise in September.

U.S. consumer sentiment fell for a fourth straight month in November and households' expectations for inflation rose again, with their medium-term outlook for price pressures shooting to the highest level in more than a dozen years. The University of Michigan's preliminary reading of its Consumer Sentiment Index dropped to 60.4, the lowest level since May, from October's final reading of 63.8.

Commodities: Gold prices edged higher on Monday as investors look forward to U.S. inflation data after hawkish remarks from Federal Reserve Chair Jerome Powell pushed bullion to a more than three-week low last week.

Oil prices eased on Monday, reversing their rally on Friday, as renewed concerns over waning demand in the United States and China dented market sentiment.

Currency: The dollar was steady on Monday as traders awaited another batch of inflation data from the United States that is expected to offer further clues this week on whether the Federal Reserve has more work to do to tame price pressures.

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