IGI Logo

Market Review

US: US markets were shut for a Thanksgiving holiday.

Asia: Asian shares were dragged lower by China on Friday amid little guidance from Wall Street which was closed for a holiday, while the dollar remained on the back foot as investors bet U.S. rates have peaked.

India: India's benchmark stock indices snapped two days of gains to end marginally lower on Thursday, dragged by losses in Cipla Ltd., Infosys Ltd., and Tata Consultancy Services Ltd. The S&P BSE Sensex ended 5.43 points, or 0.01%, lower at 66,017.81, while the NSE Nifty 50 fell 9.85 points, or 0.05%, to close at 19,802.

Market is expected to open on a flattish note and likely to witness sideways move during the day

Global Economy: Japan's core consumer price growth picked up slightly in October, after easing the previous month, reinforcing investors' views that stubborn inflation may push the Bank of Japan (BOJ) to roll back monetary stimulus before long. The nationwide core CPI, which excludes volatile fresh food costs, rose 2.9% year-on-year in October. Core inflation had slowed to 2.8% in September from 3.1% in August, the first time it was below 3% since August 2022

Japan's factory activity shrank for a sixth straight month in November, while modest growth in the service sector was little changed, highlighting the fragility of the economy amid soft demand and inflation.T Japan manufacturing PMI slipped to 48.1 in November from 48.7 in October. The index has remained below the 50.0 threshold that separates contraction from expansion since June.

Commodities: Gold held steady on Friday, set for its second consecutive weekly gain, supported by a weaker U.S. dollar as markets grew confident that the Federal Reserve was done with its interest rate hikes

Oil prices rose slightly in Asian trade on Friday as traders remained on edge over a delay in an OPEC+ meeting, although expectations of more supply cuts by the cartel put prices on course to break a four-week losing streak.

Currency: The dollar was restrained on Friday by uncertainty over the path of U.S. interest rates, while the euro held overnight gains as data hinted that the downturn in the euro zone may be easing.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx

SEBI Registration number is INH000001766