Market is expected to open on a negative note and likely to witness range bound move during the day - Nirmal Bang Ltd
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Market Review
US:
US stocks declined on Wednesday ahead of Nvidia Corp.'s eagerly awaited earnings report, with Nasdaq falling 1% as the tech company stocks fell 2%.
Asia:
Asian indices were lower at open tracking the fall in US indices. Japan's Nikkei traded 0.4% lower at 7:01 a.m., when South Korea's Kospi and Australia's ASX 200 were trading 0.84% and 0.47% down respectively.
India:
On Wednesday, the Indian stock market indices ended marginally higher after the benchmark Nifty 50 hitting record high during the session. Market is expected to open on a negative note and likely to witness range bound move during the day.
Global economy:
Australia consumer price index inflation grew more than expected in July amid sticky fresh food costs, although softer housing and energy costs spurred a small decline in core inflation. CPI inflation grew 3.5% year-on-year in July. The reading was higher than expectations of 3.4% but eased from the 3.8% seen in the prior month.Core CPI inflation, which excludes volatile items such as fuel, fresh food and holiday spending, fell to 3.7% in July from 4% in the prior month. Brazil's economy created a net 188,021 formal jobs in July, labor ministry data released on Wednesday showed, slightly below the expectation. The figure accounts for 2,187,633 new jobs and 1,999,612 jobs closed, and surpasses the creation of 142,107 formal jobs in the same month last year. From January to July, a net 1,492,214 jobs were created, up from 1,172,763 in the yearago period, adjusted ministry data showed.
Commodities:
Oil steadied after a two-day drop, with stock market losses offsetting a drawdown in US stockpiles and supply disruptions in Libya. Brent traded below $79 a barrel after losing more than 3% over the previous two sessions, and West Texas Intermediate was near $75 Gold prices gained on Thursday, helped by prospects of a U.S. interest rate cut in September and a weaker dollar, as traders awaited jobs data and a key inflation print from the world's top economy for signals on the Federal Reserve's policy path.
Currency:
The dollar steadied amid recent steep losses, as traders await the core PCE price index, a key U.S. inflation measure, due Friday. Market reactions remain muted with currencies mostly rangebound.
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Market is expected to open on a flattish note and likely to witness range bound move during ...
![Nifty is expected to open on a flattish note and likely to witness range bound move during the day - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)
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![Nifty is expected to open on a negative note and likely to witness range bound move during the day - Nirmal Bang Ltd](https://portfolio.investmentguruindia.com/uploads/news/Nirmal bang.jpg)