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Market Review

US: The Nasdaq Composite rose to an all-time high Friday, surpassing its 2021 record, as investors bet that mega cap technology stocks were the best way to play slowing inflation and a coming artificial intelligence boom

Asia: Asian stocks rose Monday, tracking US shares higher into a week that includes Federal Reserve boss Jerome Powell’s congressional testimony and China’s National People’s Congress.

India: India’s benchmark equity indices ended at new all-time closing highs on Friday after the country's third-quarter gross domestic product beat economists' estimates. The Indian bourses, BSE and NSE, held a special live trading session on Saturday, March 2, to assess the resilience of their disaster recovery systems. On Saturday, the stock market indices ended with marginal gains after hitting record highs during the day. The market is expected to open on a flattish note and likely to witness sideways move during the day.

Global Economy: China's parliament is expected to unveil moderate stimulus plans to stabilize growth at an annual meeting beginning on Tuesday, but may disappoint those calling for a detailed roadmap of bold policies to fix the country's deep structural imbalances

New Zealand's central bank on Monday said banks must report major cyber incidents within 72 hours, as it plans to implement formal cyber reporting requirements in phases through this year. The move comes after regulated entities supported proposals by the Reserve Bank of New Zealand (RBNZ) on the importance of having access from the central bank to information on cyber resilience.

Commodities: Gold prices hovered near a two-month high on Monday, after softer U.S. economic data last week raised hopes for a June interest rate cut by the Federal Reserve, sending the dollar and treasury yields lower.

Oil prices rose on Monday after OPEC+ members agreed to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, largely in line with market expectations.

Currency: The U.S. dollar drifted weaker on Monday, pressured by lower Treasury yields, as traders waited for more crucial economic data for fresh clues on the timing of Federal Reserve interest rate cuts.

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