Market is expected to open on a positive note and likely to witness range bound move during the day - Nirmal Bang Ltd
Market Review
US:
Wall Street stocks ended higher on Tuesday, with Apple rising and Nvidia dipping as investors assessed consumer sentiment data and bet on a more flexible trade policy stance from the Trump administration next week.
Asia:
Most Asian stocks rose on Wednesday, extending recent gains amid cooling concerns over the impact of U.S. President Donald Trump’s planned trade tariffs, while regional tech stocks tracked gains in their U.S. peers.
India:
Benchmark indices gained for the seventh straight session on Tuesday, their longest streak since September 2024, but pared gains after hitting a three-month high. Market is expected to open on a positive note and likely to witness range bound move during the day.
Global Economy:
The U.S. added six subsidiaries of Inspur Group, China’s leading cloud computing and big data service provider, and dozens of other Chinese entities to its export restriction list on Tuesday. The Inspur units were listed for contributing to the development of supercomputers for the Chinese military. Inspur Group itself was placed on the list in 2023. The Inspur units are among about 80 companies and institutes added to the export control list Tuesday. The listings are intended to restrict China’s ability to develop highperformance computing capabilities, quantum technologies and advanced AI, and impede China’s development of its hypersonic weapons program.
Vietnam will cut its tariffs on several U.S. products including LNG and cars, the head of the Finance Ministry’s tax policy department said, as the country tries to avoid being hit with U.S. tariffs because of its large bilateral trade surplus.
A leading indicator of Japan’s service-sector inflation hit 3.0% in February, and keeping alive expectations of further interest rate hikes by the central bank. Service-sector inflation is being closely watched by the Bank of Japan for clues on whether prospects of sustained wage gains will prod firms to continue raising prices, & keep inflation sustainably around its 2% target.
Commodities:
Oil prices rose in Asian trading on Wednesday, set for their sixth consecutive session of gains, after data showed that U.S. crude stockpiles fell sharply below forecasts, but gains were limited as traders cautiously assessed RussiaUkraine peace talks.
Gold prices held steady on Wednesday (Mar 26) as market participants squared positions ahead of US President Donald Trump’s sweeping reciprocal tariff plans, which they fear will fuel inflation and hinder economic growth.
Currency:
The dollar took a breather on Wednesday, with weak U.S. confidence data and concerns about the effect of sweeping tariffs on U.S. growth putting the brakes on a recent bounce.
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