IGI Logo

Market Review

US: Wall Street equities closed lower overnight, but partly recovered from initial steeper losses following Trump's decision of pausing the planned tariffs on goods from Canada, just hours after a reprieve was also announced on expected levies against Mexico

Asia: Asian markets rose on the day after U.S. President Donald Trump paused tariffs on Canada and Mexico for a month, though levies on China are due to take effect at 10:31 a.m. IST

India: Benchmark equity indices ended lower on Tuesday following weak global markets due to concerns about US President Donald Trump's tariff implementation on trading partners. Market is expected to open on a gap up note and likely to witness range bound move during the day

Global economy: President Donald Trump is set to pause tariffs on Canada for 30 days on following a call with Canadian Prime Minister Justin Trudeau in which the two leaders struck a deal to reinforce the U.S.-Canada border and implement measures to stem the flow of illegal drugs in the United States. Mexico struck a similar concession with Trump earlier Monday, also averting a 25% tariff that was set for Tuesday.

The beleaguered manufacturing industry in the euro zone exhibited signs of stabilization at the start of the year. Despite rising costs and the looming threat of U.S. tariffs, firms in the region have grown more optimistic about their future outlook. The final euro zone manufacturing Purchasing Managers' Index for January, compiled by S&P Global, rose to 46.6

Commodities: Oil prices declined in Asian trading on Tuesday, retreating from the previous session's surge, after U.S. President Donald Trump announced a one-month delay on newly imposed tariffs on imports from Canada and Mexico. Gold prices on Tuesday hovered near a record high scaled in the prior session, as investors fretted that U.S. President Donald Trump's tariffs on Canada, China, and Mexico will fuel inflation and hinder economic growth.

Currency: The Canadian dollar, Mexican peso and euro were steady against the U.S. dollar on Tuesday following a wild ride on Monday when they rebounded sharply from multi-year lows after U.S. President Donald Trump suspended tariffs on Canada and Mexico by a month.

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