Market is expected to open on a positive note and likely to witness positive move during the day - Nirmal Bang Ltd
Market Review
US:
US stock market ended a choppy session higher on Wednesday, led by gains in technology stocks ahead of Nvidia results.
Asia:
Asian markets traded higher on Thursday, led by a rally in chips stocks after Nvidia earnings.
India:
The Indian market ended higher on Wednesday, with the Sensex and Nifty erasing early losses as renewed foreign inflows and a rebound in major IT names helped steady sentiment. Market is expected to open on a positive note and likely to witness positive move during the day.
Global economy:
Australia’s central bank is examining three issues that could influence policy, including whether firms have changed how they set prices and whether the transmission channels for monetary policy have changed.
The Bank of Japan must continue to normalise monetary policy by raising real interest rates to "a state of equilibrium" to avoid creating unintended distortions in the future, its board member Junko Koeda. The output gap has been around 0%, while labour market conditions have been tight due to labour shortages.
U.S. President Donald Trump said on Wednesday evening that he had just signed a bill to release files related to Jeffery Epstein, while accusing his political opponents of having ties to the late convicted sex trafficker.
The Federal Reserve’s decision last month to announce a looming halt to the drawdown of its balance sheet earlier than many had expected drew broad support from central bankers, meeting minutes from the late October policy meeting.
Commodities:
Oil prices edged higher on Thursday, recovering from losses in the previous session, as markets assessed the latest U.S. proposals to end the war in Ukraine and prepared for a U.S. deadline to cease operations with two major Russian oil firms.
Gold prices edged higher on Thursday, as investors looked forward to the release of the delayed U.S. jobs report that could shed more light on the Federal Reserve's interest rate trajectory.
Currency:
The dollar was riding high on Thursday after notching its sharpest gain in six weeks as Fed minutes made a December U.S. rate cut seem less likely, while the yen tumbled on bets that Japan would not immediately step in to stem its weakness.
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