Market is expected to open on a negative note and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review
US:
U.S. stocks inched higher Wednesday, reversing earlier declines, as investors paused to digest Federal Reserve meeting minutes, new housing data and fresh tariff threats from President Trump.
Asia:
Markets in the Asia-Pacific region were mostly lower on Thursday, as investors assessed Trump’s proposal to levy 25 per cent tariffs on auto, chip and pharmaceutical import.
India:
The benchmark Indian equity indices ended Wed's choppy session on a flat note with a slightly negative bias due to selling in IT stocks, broader markets witnessed a lot of optimism as mid & small-cap stocks rallied after the recent selloff. Market is expected to open on a negative note and likely to witness range bound move during the day.
Global economy:
Australia's job market surged much more past expectations in Jan, mainly attributable to gains in the female workforce, showing continued resilience in the labor market. The total number of employed people grew by 44,000 in Jan.
The rise was reported in inventory levels of US crude oil, gasoline, and distillate stocks. The latest data reveals that the actual stock levels have reached 3.339 mn barrels. This new figure, while indicating an increase, still falls short of the forecasted rise of 2.200 mn barrels. The lower-than-expected increase implies a greater demand for crude oil, which is traditionally bullish for crude prices.
Commodities:
Oil prices fell in Asian trading on Thursday after a one-week high, dragged by an unexpected increase in crude oil inventories and ongoing geopolitical developments concerning potential peace negotiations between Russia and Ukraine.
Gold prices edged higher on Thursday, hovering near their alltime highs as concerns persisted over Donald Trump's tariff strategies, which could fuel inflation and escalate a global trade war.
Currency:
The U.S. dollar held steady on Thursday as investors pondered what U.S. President's latest tariff agenda would mean for the global economy and how it could affect the interest rate outlook for major central banks.
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Market is expected to open on a gap down and likely to witness sideways move during the day ...
