The market is expected to open on a negative note and likely to witness range bound move during the day - Nirmal Bang Ltd
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Market Review
US:
U.S. Stocks closed higher on Wednesday as the latest jobs data from ADP strengthened investors’ conviction that the Federal Reserve will cut interest rates next week.
Asia:
Asian stocks advanced at Thursday’s open, tracking gains in US peers after more evidence of a slowing job market boosted the case for the Federal Reserve to lower interest rates next week.
India:
Benchmark stock market indices closed flat on Wednesday as no update on India-US trade deal and the rupee slipping to an all-time low weighed on investor sentiment. The market is expected to open on a negative note and likely to witness range bound move during the day.
Global economy: Australia’s trade balance grew slightly below expectations in October, as exports slowed sharply amid weak overseas demand for the country’s key commodities. Australia’s trade balance rose to a A$4.385 bn surplus ($2.90 bn) in October from a downwardly revised A$3.707 bn surplus in the previous month.
Business activity in the euro zone expanded at its fastest pace in two-and-a-half years in Nov’25 as a robust service sector more than offset manufacturing weakness. HCOB’s Eurozone Composite PMI, compiled by S&P Global and seen as a good gauge of overall economic health, rose to 52.8 in Nov’25 from 52.5 in Oct’25, marking its sixth consecutive monthly increase.
U.S. private payrolls posted their biggest drop in more than two and a half years in November as small businesses shed jobs, but the weakness is probably not a true reflection of the labor market’s health, with recent government data showing still-low layoffs. Economists also cautioned against reading too much into the unexpected decline shown in the ADP employment report, arguing the monthly estimate has diverged from the government’s private payrolls count produced by the Labor Department’s Bureau of Labor Statistics.
Gold prices held steady above the $4,200 mark on Thursday, buoyed by weak private payrolls data that reinforced expectations of a U.S. interest rate cut at the U.S. Federal Reserve's monetary policy meeting next week.
Currency: The U.S. dollar was soft on Thursday after lacklustre economic data cemented the case for a rate cut from the Federal Reserve next week, providing relief to the yen and pushing the euro to its highest level in nearly seven weeks.
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