IGI Logo

Market Review

US: The S&P 500 and the Nasdaq managed to eke out tiny gains on Thursday while the Dow Industrial Average ended slightly lower with pressure from tech and retail bellwethers Cisco and Walmart after disappointing forecasts.

Asia: Asian shares took a breather on Friday as a batch of softer U.S. economic data took some of the steam out of Wall Street, but also boosted bonds in a big way while slugging oil prices in a boon for the inflation outlook.

India: The Indian benchmark indices ended in the green for the second consecutive session on November 16 in a volatile session amid buying in information technology, oil & gas, auto and pharma names even as last-hour selling capped gains. 

Market is expected to open on a negative note and likely to remain cautious during the day.

Global Economy: US industrial production declined more than expected in October, with the auto workers strike exerting downward pressure on a range of market groups. The United Auto Workers union called off a six-week strike late last month after reaching agreement with the "Big Three" automakers over better pay and working conditions. US industrial production fell 0.6 percent in October from a revised 0.1 percent rise in September

The International Monetary Fund's executive board has approved a two-year, $35 billion flexible credit line for Mexico. The Mexican authorities stated their intention to treat the new arrangement as precautionary and are set on maintaining prudent policy going forward. This is Mexico's tenth flexible credit line arrangement since 2009, and the country has reduced amounts of the lines granted in recent years, the IMF said.

Commodities: Gold prices rose slightly on Friday, on track for their first weekly gain in three, as investors grew confident that the U.S. Federal Reserve is done raising interest rates, sending the dollar and Treasury yields lower.

Oil prices hovered around a four-month low in Asian trade on Friday, and were headed for steep weekly losses amid signs of increased supplies and fears of worsening global demand.

Currency: The yen was on track for its best week against the dollar in four months on Friday on the prospect of a narrowing U.S.-Japan rate differential, with bets that the Federal Reserve is done raising rates leaving the greenback headed for a weekly loss.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx

SEBI Registration number is INH000001766