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Market Review

US:

US stock market ended higher on Friday after US President Donald Trump’s comments provided hope that previously announced tariffs expected to begin in early April may not be as burdensome as feared.

Asia:

Asian markets traded mostly lower on Monday ahead of the deadline for the implementation of US President Donald Trump’s reciprocal tariff on April 2.

India:

On Friday, the Indian stock market ended with strong gains, extending its winning streak for the fifth consecutive session. For the week, the benchmark indices Sensex and Nifty 50 jumped over 4%, posting the strongest weekly run since February 2021. Market is expected to open on a gap up note and likely to witness positive move during the day.

Global Economy:

Japanese business activity shrank for the first time in five months in March, as per the preliminary PMI data, as sticky local inflation and soft overseas manufacturing demand weighed. The au Jibun Bank manufacturing PMI fell to 48.3 in March from 49.0 in February, shrinking for a ninth consecutive month. The reading was also weaker than expectations of 49.2. A PMI print below 50 entails contraction. Britain will invest £600 mn ($775 mn) to train construction workers and help tackle severe skills shortages that could undermine its plan to build 1.5 mn homes by 2029 and boost economic growth. Housebuilding and improving British infrastructure are key parts of the Labour government’s growth strategy. Construction represents around 6% of GDP, but underpins growth in other sectors. "We are determined to get Britain building again, that’s why we are taking on the blockers to build 1.5 mn new homes and rebuild our roads, rail and energy infrastructure," finance minister Rachel Reeves said in comments emailed by the Treasury on Saturday.

Commodities:

Oil prices slipped in Asian trading on Monday as investors braced for fresh tariff announcements from U.S. President Donald Trump, and awaited the outcome of RussiaUkraine peace talks.

Gold edged higher on Monday as concerns over U.S. President Donald Trump's impending reciprocal tariffs and the potential for interest rate cuts by the Federal Reserve this year supported bullion's safe-haven appeal.

Currency:

The US dollar index remained firm above 104 on Monday as investors awaited further clarity on President Donald Trump’s trade policies ahead of the April 2 deadline for his reciprocal tariffs.

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