Market is expected to open on a gap down note and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review
US:
The S&P 500 notched a record high close on Wednesday ahead of quarterly results from Nvidia, Wall Street's most closely watched event this week, which will test the rally that has pushed valuations of AI-related companies to levels that some investors view as too high.
Asia:
Asia-Pacific markets trade mixed as investors assess China industrial profits data.
India:
Indian benchmark indices Sensex and Nifty ended lower on Tuesday, after the United States issued a draft notice to impose tariffs of up to 50% on Indian goods starting Wednesday. Market is expected to open on a gap down note and likely to witness range bound move during the day.
Global economy:
The AI boom and Trump’s trade war are among macro trends leading demand for supply chain financing within the U.S. economy. There has been a recent surge in interest for financing to support data center component suppliers, according to Wells Fargo data. “The need for computing power for data centers is tremendous,” said Jeremy Jansen, head of global originations at Wells Fargo Supply Chain Finance. “This goes beyond the bricks-and-mortar. The capex that goes into these facilities, and the power generation to make sure these facilities stay online 24/7, is in the billions of dollars,” he added.
Leisure travel to the United States is down this year, but business travel to the country remains stable, according to a report from SAP Concur. The United States was the top destination for global business travelers in the first half of 2025, according to the report. Some 15% of all business air travel bookings were to destinations in the U.S., it showed. That’s twice the number of business bookings to Germany (7.7%) and United Kingdom (7.6%), which ranked second and third, respectively, in the report
Commodities:
Oil fell as traders looked past US efforts to force India to quit buying Russian crude, and broader markets carried a risk-off tone.
Gold steady after two-day gain on worries over Fed independence.
Currency:
The dollar started Thursday on the back foot as traders added to bets for a Federal Reserve interest rate reduction next month after New York Fed chief John Williams signaled a cut was possible.
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Market is expected to open on a flattish note and likely to witness range bound move - Nirma...
