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Market Review

US: Wall Street is ending the week on a bit of a sour note, with bonds down and stocks wavering after economic data continued to fuel speculation the Federal Reserve will be in no rush to cut interest rates.

Asia: Markets in Asia-Pacific region were trading on a mixed note in early trade on Monday, while investors look forward to the reopening of Chinese markets today after a week-long holiday.

India: India’s benchmark equity indices gained more than 1% this week, with shares of Mahindra and Mahindra Ltd. and Wipro Ltd. adding around 11%. The NSE Nifty 50 closed 121.85 points up, or 0.56%, at 22,032.60 and the S&P BSE Sensex gained 365.84 points, or 0.51%, to end at 72,416.22.

Market is expected to open on a positive note and likely to witness range bound move during the day

Global Economy: Japan's core machinery orders in December rose slightly more than expected but remained down year-onyear, government data showed on Monday, although further gains are expected to be capped by global and domestic headwinds. Core orders, a highly volatile data series regarded as a leading indicator of capital spending in the coming six to nine months, went up 2.7% in December from the previous month.

Commodities: Gold prices inched higher on Monday, lifted by a softer dollar, as the bullion partially recovered from a slump last week on hot U.S. inflation data that cooled prospects of early rate cuts by the Federal Reserve.

Oil prices fell slightly in Asian trade on Monday amid persistent concerns over a looming demand slowdown, which largely offset fears of potential supply disruptions from new attacks in the Red Sea.

Currency: The dollar was steady on Monday after data last week showing US inflation remained sticky cast doubts on when the Federal Reserve would start its easing cycle, while the yen remained rooted near the psychologically key 150 per dollar level.

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