Market is expected to open on a gap up note and likely to witness positive move during the day - Nirmal Bang Ltd
Market Review
US:
The S&P 500 and the Nasdaq 100 rose about 0.6% each on Monday, as gains in small-cap stocks outweighed a slide in the Magnificent Seven cohort.
Asia:
Asian stocks climbed, buoyed by renewed optimism over China’s economy and US data that eased recession concerns.
India:
India's benchmark equity indices ended higher on Monday, following a jump in global markets. The Nifty and Sensex snapped a two-day decline from the previous week. Market is expected to open on a gap up note and likely to witness positive move during the day.
Global Economy:
In January 2025, U.S. business inventories increased by 0.3%, rebounding from a 0.2% decline in December, aligning with economists' expectations. This annual growth of 2.3% was driven by declining sales, particularly at wholesalers, potentially boosting first-quarter economic growth. Retail inventories remained unchanged, motor vehicle inventories decreased by 1.0%, wholesale inventories rose by 0.8%, and manufacturer stocks edged up by 0.1%. In February 2025, Canadian home sales declined by 9.8% compared to January, marking the steepest drop since May 2022, and were down 10.4% year-over-year. This downturn is attributed to economic uncertainties stemming from a trade war with the United States, which has deterred potential buyers. The national average home price decreased by 3.3% annually, while the MLS Home Price Index fell 1%.
Commodities:
Oil steadied after a two-day gain, with the outlook for China's economy and geopolitical risk in the Middle East remaining in focus. Brent crude traded near $71 a barrel after rising by 1.7% over the past two sessions, with West Texas Intermediate above $67 Gold held steady near the $3,000 level mark on Tuesday, hovering near an all-time high hit last week, as investors awaited the U.S. Federal Reserve's policy decision to gauge the country's economic outlook amid tariffs and trade woes.
Currency:
The U.S. dollar wallowed near a five-month trough against the euro and other major peers on Tuesday as investors grappled with the potential economic impact of growing global trade tensions.
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Index is likely to open on a gap up note today and is likely to remain positive during the d...
