IGI Logo

Market Review

US:

The S&P 500 eked out a record closing high in a volatile session Friday, with interest rate-cut expectations holding up as the U.S. government shutdown went on for a third day.

Asia:

Asian stocks hit record highs, led by Japan, while gold surged to an all-time peak and Bitcoin hovered near recent highs, as investors wagered that looser monetary policy and accelerating AI investment would boost risk appetite.

India:

Indian equities closed higher for the second straight session on Friday, buoyed by optimism from the Reserve Bank of India’s dovish stance and recent regulatory reforms. Market is expected to open on a negative note and likely to witness range bound move during the day.

Global Economy:

China is providing intelligence to Russia to enable Moscow to better launch missile strikes inside Ukraine, a senior Ukrainian intelligence China was passing on satellite intelligence on targets, including those benefiting from foreign investment. There is evidence of a high level of cooperation between Russia and China in conducting satellite reconnaissance of the territory of Ukraine in order to identify and further explore strategic objects for targeting.

U.S. services sector activity stalled in September amid a sharp slowdown in new orders, while subdued employment added to mounting evidence of sluggish labor market conditions because of sagging demand and supply of workers.

Kuwait’s non-oil private sector continued to expand in September, but at a slower pace as growth in output and new orders weakened to one-year lows.

British business activity grew at the slowest pace in five months in September as companies and consumers put big spending decisions on hold as they waited to see if they would be hit by tax rises in November’s budget.

Commodities:

Oil prices rose about 1% in early trade on Monday after OPEC+ announced a more modest monthly increase in production than expected, tempering some concerns about supply additions

Gold surged past $3,900 an ounce for the first time on Monday, driven by safe-haven demand amid a U.S. government shutdown, alongside growing expectations of additional Federal Reserve rate cuts

Currency:

The yen tumbled against the U.S. dollar by the most in five months in early trading on Monday after Sanae Takaichi won the LDP leadership election at the weekend, setting the country on course for more expansionary fiscal policy and complicating the task facing the Bank of Japan.

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