IGI Logo

Market Review

US:

U.S. stocks ended the week on a higher note after a blowout jobs report signalled the US economy will continue to power Corporate America.

Asia:

Asian stocks were a mixed bag on Monday as Japanese markets rebounded from sharp losses seen last week, while Chinese stocks fell amid renewed concerns over the country’s property market.

India:

Benchmark indices were listless on Friday after the RBI kept repo rate unchanged at 6.5% for a seventh straight policy. It also maintained the GDP and CPI inflation forecast for FY25. Markets are expected to open on a flattish note and likely to witness sideways move during the day.

Global Economy:

Japan's current account extended its surplus to a 13th straight month in February, thanks to the trade deficit narrowing from the previous month. The surplus rose to 2.64 trillion yen ($17.41 billion) last month, but was below the median forecast for 3.11 trillion yen in a Reuters poll. It followed a 457 billion yen surplus in January and was the highest since October last year. A breakdown of the data showed exports expanded by 5.5% year-on-year in February, driven by demand for cars, car parts and plastics. Imports grew by 1.4%, the first increase in 11 months, reflecting stronger demand for clothing, computer equipment and petroleum products. China's central bank will set up a 500 billion yuan ($70 billion) re-lending programme to support the country's science and technology sectors. The programme will offer loans via 21 banks to small and midsize technology companies at an interest rate of 1.75%. The one-year loans can be extended twice, for up to a year each time. China's policymakers look to boost liquidity and increase confidence in the world's second-biggest economy amid headwinds from a property crisis and frictions with major trading partners.

Commodities:

Gold prices slipped more than 1% on Monday as the dollar and Treasury yields held firm after strong U.S. data heightened doubts on whether the Federal Reserve would deliver three interest rate cuts this year. Oil prices fell nearly 2% as Middle East tensions eased after Israel withdrew more soldiers from southern Gaza.

Currency

The dollar firmed as investors weighed when the U.S. Federal Reserve will start cutting rates in the wake of yet another blowout jobs report. EUR/USD edges lower on Monday as the upbeat US NFP continues to underpin the USD. A positive risk tone might cap the safe-haven buck and lend some support to the major.

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