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US:

U.S. stocks Tuesday, with shares of regional banks including First Republic Bank FRC 29.47%increase; green up pointing triangle at the forefront of a broad market rally.

Asia:

Asia-Pacific markets rose on Wednesday as investors looked ahead to the U.S. Federal Reserve’s latest update on its rate hike decision, as the central bank attempts to balance its inflation fight and stem a banking crisis.

India:

Indian shares advanced on Tuesday led by Banks, Financials and Consumer Durables as the rescue of troubled European lender Credit Suisse provided temporary relief, although contagion fears in banking cast a shadow. Market is expected to open positive and likely to witness positive move during the day.

Global Economy:

U.S. existing home sales rebounded more than expected in February as lower mortgage rates and the first yearon-year decrease in prices in 11 years pulled buyers back into the market, further evidence that the housing market was stabilizing at low levels. The jump in sales of previously owned homes, which was reported by the National Association of Realtors was the largest in more than 2-1/2 years and ended 12 straight monthly declines in sales, the longest such stretch since 1999. Canada's inflation rate slowed more than expected in February to its lowest level in 13 months backing up the central bank's plans to hold off on further interest rates hikes. The annual inflation rate fell to 5.2% in February from 5.9% in January, the biggest single-month decline in almost three years. That beat a median analysts' forecast for a decline to 5.4%. Excluding food and energy, prices rose 4.8% versus a year ago compared with a 4.9% increase in January.

Commodities: Gold prices moved in a tight range on Wednesday, stabilizing after a sharp drop in the prior session as markets hunkered down ahead of a Federal Reserve interest rate decision, while easing fears of a banking crisis spelt lesser safe haven demand for the yellow metal. Oil prices crept lower in early Asian trade on Wednesday as industry data pointed to another week of rising inventories in the world’s largest crude consumer, while an upcoming Federal Reserve interest rate decision spurred cautious plays.

Currency: The dollar was pinned near five-week lows on Wednesday ahead of the conclusion of the U.S. Federal Reserve's policy meeting, with investors awaiting clarity on the path the central bank is likely to take in the wake of global banking turmoil.

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