Market is expected to open on a flattish note and likely to witness sideways move during the day - Nirmal Bang Ltd
Market Review
US:
US stocks ended higher on Monday after the latest employment data showed a sharp slowdown in job growth, lifting expectations the Federal Reserve will cut interest rates to support the economy.
Asia:
Asian stocks advanced on Tuesday, tracking Wall Street’s strong rebound after soft U.S. jobs data boosted expectations of a Federal Reserve rate cut, while investor sentiment remained cautious amid heightened global trade tensions.
India:
The Indian equity benchmark indices closed higher, snapping a two-day slump, as Hero MotoCorp, Tata Steel stocks led gains. Market is expected to open on a flattish note and likely to witness sideways move during the day.
Global economy:
U.S. President Trump again threatened on Monday to raise tariffs on goods from India over its Russian oil purchases, while New Delhi called his attack unjustified and vowed to protect its economic interests, deepening the trade rift between the two countries. In a social media post, Trump wrote, India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don’t care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA, he added.
The Bank of Japan will hike interest rates further if growth and inflation continue to advance in line with its estimates. The minutes showed most BOJ members supported keeping interest rates unchanged for the time-being, especially amid heightened uncertainty over U.S. trade tariffs. One member also supported the BOJ keeping interest rates unchanged indefinitely, amid concerns that Japanese economic growth and inflation will moderate.
Commodities:
Oil prices were little changed on Tuesday after three days of declines on mounting oversupply concerns after OPEC+ agreed to another large output increase in September, though the potential for more Russian supply disruptions supported the market.
Gold prices rose on Tuesday, after gaining in the last three sessions, supported by a weaker U.S. dollar and lower Treasury yields following last week's weak U.S. jobs data that boosted expectations of a Federal Reserve rate cut in September.
Currency:
The U.S. dollar wavered on Tuesday as the rising odds of Federal Reserve rate cuts weighed on sentiment, while investors assessed the broader economic impact of U.S. tariffs unleashed last week.
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Market is expected to is expected to open on a negative note and likely to witness negative ...
