Market is expected to open on a positive note and likely to witness positive move during the day - Nirmal Bang Ltd
Market Review
US:
Wall Street ended sharply higher on Monday, led by big gains in Nvidia, Palantir and other heavyweight AI-related companies following progress in Washington to end a record government shutdown.
Asia:
Asia-Pacific markets rose Tuesday after Wall Street gains on revived artificial intelligence optimism and growing hopes that the U.S. government shutdown will end soon.
India:
Indian stocks ended higher on Monday, with the Sensex and Nifty mirroring gains across Asian markets amid optimism that Washington is nearing a resolution to the prolonged U.S. government shutdown. Market is expected to open on a positive note and likely to witness positive move during the day.
Global economy:
Chinese consumer price index inflation picked up in October on some support from the Golden Week holiday, while producer inflation shrank slightly less than expected. CPI grew 0.2% yoy. The print beat expectations that inflation will remain flat, and picked up from a 0.3% contraction in the prior month.
Australian consumer sentiment improved sharply in November amid increased optimism over the economy and family finances, even as the Reserve Bank downplayed expectations for lower interest rates.A deescalation in U.S.- China trade tensions also helped sentiment, as did new trade deals between Australia and the United States.
Egypt’s annual urban consumer price inflation increased to 12.5% in October, up from 11.7% in September. The rise marks an acceleration in the inflation rate for urban consumers in Egypt, following the previous month’s reading of 11.7%.
Commodities: Oil prices dipped in early Asian trade on Tuesday, trimming gains from the previous session as oversupply concerns outweighed optimism over a potential resolution to the U.S. government shutdown.
Gold prices climbed to a near three-week high as expectations of a December U.S. Federal Reserve interest rate cut boosted demand for the safe-haven asset
Currency: The safe-haven yen hit its lowest since February on Tuesday while riskier currencies were firm against the dollar, as traders waited to see whether U.S. lawmakers could secure an end to the government shutdown in coming days.
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