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Market Review

US: US stocks edged higher on Thursday following inflation report that came in line with the expections. The inflation report showed that prices across the US rose pretty much exactly as expected in January. The Personal Consumption Expenditures (PCE) price index, the US Federal Reserve's favoured measure for inflation, rose at an annual rate of 2.4% in January, down 0.2% points from December.

Asia: Markets in Asia-Pacific region were trading on a mixed note as investors await for China's official PMI reading for February, and assess U.S. Personal Consumption Expenditure data.

India: India’s benchmark indices ended a choppy session higher ahead of the announcement of the GDP data on Thursday, led by ICICI Bank Ltd. and Reliance Industries Ltd. The S&P BSE Sensex closed 195.42 points or 0.27%, higher at 72,500.30, while the NSE Nifty 50 advanced 31.65 points or 0.14%, to end at 21,982.80. The market is expected to open on a positive note and likely to witness sideways move during the day.

Global Economy: Chinese manufacturing activity grew more than expected in February, a private survey showed on Friday, indicating that certain facets of the economy remained resilient despite broader signs of slowing growth and activity. The Caixin manufacturing purchasing managers index rose 50.9 in February, more than expectations for a reading of 50.7 and picking up slightly from the 50.8 reading seen in January. Irish manufacturing expanded in February for only the third month in the past year and at the fastest pace since mid-2022 following a jump in output and a rebound in new orders, a survey showed on Friday

Commodities: Gold prices firmed near month-high levels on Friday and were set for a second weekly rise after data showed that U.S. inflation was gradually easing, while traders turned their focus to remarks from a slew of Federal Reserve officials. Oil prices rose on Friday and were set to end the week modestly higher as talks over a potential ceasefire in Gaza were further complicated by the deaths of more than 100 Palestinians waiting for an aid delivery.

Currency: The dollar was steady on Friday after data showed US inflation remained sticky but easing gradually, keeping alive the chance of the Federal Reserve cutting rates in June, while the yen slid back to the key 150 per dollar level.

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