IGI Logo

Market Review

US:

Stocks fell on Friday as Israel-Iran tension escalated after Israel attacked Iranian nuclear sites.

Asia:

Stock markets in Asia moved higher at the start of trading on Monday, pulling back some of their losses from the end of last week.

India:

Benchmark indices ended lower for a second straight session on Friday, closing the week in the red amid heightened volatility. Market is expected to open on a positive note and likely to witness positive move during the day.

Global economy:

China’s new home prices fell in May, extending a two-year long stagnation, official data showed on Monday, highlighting challenges in the sector despite several rounds of policy support measures. The property sector, once a key driver of growth for the world’s second-largest economy and accounting for roughly a quarter of economic activity at its peak, holds around 70% of Chinese household wealth. Chinese industrial production grew slightly less than expected in May as high U.S. trade tariffs dented overseas orders and weighed on domestic output.But other data showed Chinese retail sales blew past expectations in May on support from holiday spending and local shopping events, which helped offset broader weakness in consumer spending. Industrial production grew 5.8% year-on-year in May, government data showed on Monday. The reading was just below expectations of 5.9% and fell from the 6.1% rise seen in the prior month. The European Union’s goods trade surplus with the United States expanded in April even after U.S. tariffs, data released on Friday showed, while the bloc’s exports to China dropped for a ninth consecutive month.

Commodities:

Oil prices rose in Asian trade on Monday, extending a recent rally after an intensifying conflict between Israel and Iran ramped up concerns over supply disruptions in the Middle East. Gold prices rose on Monday, nearing a two-month high as investors sought refuge in safe-haven assets after intensified clashes between Israel and Iran stoked fears of a broader regional conflict.

Currency:

The dollar firmed against major currencies on Monday, driven by safe-haven buying from investors fearing the Israel-Iran fighting could escalate into a broader regional conflict as they braced for a week packed with central bank meetings.

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