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Market Review

US: The holiday-shortened week kicked off with a strong rally in stocks, continuing the bullish trend across Wall Street. Asia: Asian stocks extended their winning streak for a third session, buoyed by the bullish momentum that lifted Wall Street and signaling that the anticipated year-end rally is gaining traction

India: Indian equities extended their rebound for a second straight session on Monday, with the Sensex and Nifty closing higher. Market is expected to open on a positive note and likely to witness positive move during the day

Global economy: Japan has a free hand in dealing with excessive moves in the yen, Finance Minister Satsuki Katayama issuing the strongest warning to date on Tokyo’s readiness to intervene in the currency market to arrest sharp declines in the currency. The government will take appropriate action against excessive moves, she added, signalling Japan’s readiness to step into the market to prop up the yen

Reserve Bank of Australia board members discussed whether the central bank should raise interest rates in 2026, the minutes of the bank’s December meeting showed, as policymakers grappled with a recent increase in inflation.The RBA left rates unchanged at 3.60% earlier in December, with Governor Michele Bullock signaling that rates will likely have to remain steady for longer, amid an unexpected increase in domestic inflation.

The Trump administration is recalling nearly 30 ambassadors and other senior career diplomats to ensure embassies reflect its “America First” priorities, a move critics said would weaken U.S. credibility abroad.The State Department declined to provide a list of the diplomats being recalled. A senior department official said on Monday the move was "a standard process in any administration" but critics said that was not so.

Commodities: Oil prices saw a slight dip today after a significant rise yesterday. The United States is considering selling crude oil seized from Venezuela. Meanwhile, attacks on Russian vessels and ports by Ukraine are raising concerns about oil supply disruptions.

Gold has reached a new record high. Investors are flocking to the yellow metal as a safe haven. Tensions over Venezuelan oil shipments are rising. Silver prices are also near all-time highs. The U.S. Federal Reserve is expected to cut interest rates. This environment benefits non-yielding assets like gold. The U.S. dollar is weakening, making gold cheaper for foreign buyers

Currency: A dismal year for the U.S. dollar is ending with signs of stabilization, but many investors believe the currency's decline will resume next year as global growth picks up and the Fed eases further.

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