Market is expected to open on a negative and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review
US:
US stocks drifted lower Tuesday as investors considered the latest developments on President Trump's tariffs, including a potential auto sector reprieve and a concrete step toward new semiconductor and pharmaceutical duties.
Asia:
Most markets in Asia-Pacific were trading lower as market participants awaited China GDP data, while US tariff concerns weighed.
India:
On Tuesday, Market bounced back, recovering all the ground it lost following Trump’s tariff announcement on April 2. Market is expected to open on a negative and likely to witness range bound move during the day.
Global economy:
China’s economy expanded at a faster pace than expected in the first three months of 2025, though its outlook is deteriorating rapidly due to Donald Trump’s massive tariffs. China’s gross domestic product grew 5.4% in the first quarter from a year ago, according to data released by the National Bureau of Statistics on Wednesday. That’s better than the 5.2% consensus estimate by economists polled by Bloomberg. Industrial output expanded 7.7% in March from a year ago, the fastest growth since June 2021.
Bank of Japan Governor Kazuo Ueda said the central bank may need to take policy action if U.S. tariffs hurt the Japanese economy, signalling the potential to pause the bank’s rate-hike cycle. Since February, risks surrounding U.S. President Donald Trump’s policies have moved closer towards the bad scenario the BOJ had envisioned, Ueda said in an interview, adding that recent developments have already affected corporate and household confidence.
Commodities:
Oil prices were flat early on Wednesday, as shifting U.S. trade policies fuelled uncertainty while markets assessed the potential impact of the U.S.-China trade war on economic growth and energy demand.
Gold prices raced to an all-time high on Wednesday, driven by a weaker dollar, trade war tensions and concerns over global economic growth due to U.S. President Donald Trump's tariff plans which led to safe-haven inflows.
Currency:
The dollar clung to a small bounce on Wednesday, as investors took a breather from weeks of fairly fierce selling and markets stabilised to wait for progress on U.S. trade talks.
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