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Market Review

US:

The Dow and S&P 500 indexes ended higher on Friday, starting 2026 by snapping a four-day losing streak, helped by gains in chip makers Nvidia, Intel and Boeing.

Asia:

Asian equities climbed to a record as investors extended their bets on technology shares and oil prices were choppy on Monday as investors looked past U.S. military action over the weekend in Venezuela.

India:

The Indian benchmarks ended higher on January 2 with Nifty recorded fresh all-time high of 26,340, intraday, led by buying across the sectors barring FMCG. Broader indices outperformed the main indices with Nifty midcap hitting new high, adding 1 percent, while Nifty smallcap index rose 0.7%. Market is expected to open on a gap up note and likely to witness positive move during the day.

Global economy:

China’s services sector continued to expand in December, but at the slowest pace in six months. The index eased slightly to 52.0, remaining above the 50 level that signals growth, but showing weakening momentum. Softer demand, declining export business (including tourism), and ongoing job cuts weighed on activity, even as domestic demand and promotions provided some support. Overall, the data points to a fragile and uneven recovery in China’s services sector going into 2026.

The UK manufacturing sector showed further signs of recovery in December as the S&P Global UK Manufacturing PMI rose to 50.6 from 50.2 in November, marking a 15-month high. With this result, UK manufacturing has now posted above the neutral 50.0 mark for two consecutive months.

Commodities:

Oil prices inched up on Monday as investors weighed whether political upheaval in OPEC member Venezuela would disrupt shipments after U.S. President Donald Trump seized Venezuelan President Nicolas Maduro, in a well supplied market

Gold prices jumped over 1% on Monday. Other precious metals also saw significant gains. This surge followed the United States' capture of Venezuelan President Nicolas Maduro over the weekend. The incident has heightened geopolitical tensions. This has increased demand for safe-haven assets like gold. Investors are closely watching the developing situation in Venezuela.

Currency:

The dollar strengthened against the euro and pound early in the new year, reaching a 3.5-week high versus the euro. Geopolitical tensions from a U.S. raid in Venezuela add a layer of risk.

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