IGI Logo

Market Review

US:

Stocks on Wall Street surged to new highs driven by a lateday rebound in technology companies.

Asia:

Stocks in the Asia-Pacific region advanced on Friday tracking an overnight rally on Wall Street that pushed stocks to record highs. All eyes will be on the Bank of Japan, which is widely expected to raise interest rates today.

India:

The Indian benchmark indices extended their gains to day two on Thursday, led by UltraTech Cement Ltd. and information-technology stocks on positive earnings and optimism over Donald Trump's AI policies. Market is expected to open on a positive note and likely to witness range bound move during the day.

Global economy:

The Energy Information Administration released its weekly report on U.S. crude oil inventories, revealing a less-than-expected decrease in stockpiles, suggesting weaker demand for the commodity.The actual number of barrels of commercial crude oil held by U.S. firms decreased by 1.017 million barrels. This decline was less than the forecasted decrease of 2.1 million barrels, indicating that demand for crude oil was not as strong as predicted. When compared to the previous week's decrease of 1.962 million barrels, this week's decline in inventories was also significantly less. Argentina's economy grew for the first time in half a year, posting a modest 0.1% year-on-year expansion in November that beat expectations.The data points to a possible turnaround for Argentina's battered economy, which was hit hard by libertarian President Javier Milei's tough austerity measures aimed at lowering inflation and stabilizing. The data compares with a 0.6% year-on-year contraction the prior month and is the first expansion since 1.4% growth in May last year, according to revised data.

Commodities:

Oil markets sank on Friday, a day after U.S. President Donald Trump pressured OPEC and its de facto leader Saudi Arabia to lower prices in a broad push to drive up crude production. Gold prices edged higher and were on track for a fourth straight weekly gain on Friday, as uncertainty about U.S. President Donald Trump's trade plans took wind out of the dollar's sail, boosting demand for the safe-haven asset.

Currency:

The yen remained steady ahead of the Bank of Japan's expected 25-basis-point rate hike, while the dollar faced its worst weekly decline in two months due to unmaterialized tariff threats by U.S. President Trump.

Please refer disclaimer at https://www.nirmalbang.com/disclaimer.aspx
SEBI Registration number is INH000001766