IGI Logo

Market Review

US:

Markets closed with major gains on Wednesday after President Trump announced a 90-day pause on some tariffs, marking a reversal from days earlier when Trump said the policy would "never change."

Asia:

Asia-Pacific markets traded mixed Wednesday as traders parse a slew of key economic data in the region.

India:

Indices settled mostly flat amid cautious stance over border tensions with Pakistan. However, positive FIIs inflows and supportive global cues improved the sentiments at Dalal Street. Market is expected to open on a gap down and likely to witness range bound move during the day.

Global economy:

Chinese manufacturing activity shrank more than expected in April, as local producers were slammed by a sharp drop in overseas orders after Trump imposed steep trade tariffs against Beijing. The official manufacturing purchasing managers index read 49.0 in April, compared to expectations of 49.7 (sharp fall from the 50.5 seen in the prior month)

Japanese industrial production shrank much more than expected in March, as manufacturers scaled back output amid heightened economic and trade uncertainty, while retail sales grew less than expected. Industrial production fell 1.1% monthon-month, much more than expectations for a 0.5% drop. The print comes as Japan’s major manufacturers grapple with the prospect of increased U.S. trade tariffs on the country. President Donald Trump unveiled a 24% tariff on Japan earlier in April, although he did pause the measure until July.

Australian consumer price index inflation grew slightly more than expected in the first quarter, while underlying inflation fell back into the Reserve Bank of Australia’s target range, supporting the case for a rate cut. CPI grew 2.4% yoy in the first quarter, a similar pace seen in the prior quarter, but was just above expectations of 2.3%.

Commodities:

Oil prices edged lower in early Asian trading on Wednesday as President Donald Trump's erratic tariff policies raised concerns about weakening global economic growth and fuel demand.

Gold prices held their ground on Wednesday as investors awaited potential trade developments between the United States and its trading partners and also key U.S. inflation data for clues on the Federal Reserve's policy path.

Currency:

The US dollar was steady on Wednesday but poised for its weakest monthly performance since November 2022 as erratic U.S. trade policies under President Donald Trump left the greenback vulnerable while boosting the euro, yen and Swiss franc

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH00000176