The market is expected to open on a gap down note and likely to witness range bound move during the day -Nirmal Bang Ltd
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Market Review
US:
US stocks pulled back on Monday as investors awaited the Federal Reserve’s last meeting of the year later this week.
Asia:
Asia-Pacific markets fell on Tuesday, mirroring losses on Wall Street as investors held back ahead of the U.S. Federal Reserve’s decision on Dec. 10 stateside
India: :
Indian equities ended lower on Monday, with the Sensex and Nifty witnessing an intraday decline of up to 1% as investors locked in profits across small and midcap stocks and broadened their selling to major blue chips. The market is expected to open on a gap down note and likely to witness range bound move during the day.
Global economy:
German industrial production increased by 1.8% in October compared to the previous month, surpassing economists’ expectations of a 0.3% rise. This growth follows a 1.3% increase in September and aligns with the 1.5% uptick in manufacturing orders, signaling continued stabilization in Germany’s industrial sector.
China’s exports rebounded sharply in November, while imports grew modestly, driving the nation’s trade balance to a wider?than?expected surplus. China’s trade balance was a surplus of $111.68 bn in November, above expectations of $100.20 bn, and picked up from the $90.07 bn surplus seen in the prior month.
Hungary’s budget deficit reached 402.8 bn forint in November, expanding the country’s shortfall for the first eleven months of the year to 4.07 tn forints. The ministry attributed the widening deficit to several factors, including high debt servicing costs, increased spending on state transportation and utility infrastructure, and higher pension payments.
Commodities:
Oil prices held steady Tuesday after a dip, with traders watching Ukraine peace talks and a key US interest rate decision. Developments in the Ukraine conflict and potential shifts in Russian oil sanctions are key drivers, alongside the Federal Reserve's anticipated rate cut.
Gold prices saw a slight uptick on Tuesday, despite a minor dip in expectations for U.S. interest rate cuts. Investors are cautiously awaiting the Federal Reserve's policy meeting, anticipating a potentially more hawkish stance on future monetary easing.
Currency:
The U.S. dollar rose against major currencies in choppy trading ahead of a week packed with central bank meetings and headlined by the Federal Reserve, where an interest rate cut is all but priced in, but investors braced for signals of a milder easing cycle than expected.
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