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Market Review

US: U.S. stocks were higher after the close on Wednesday, as gains in the Oil & Gas, Utilities and Consumer Services sectors led shares higher. At the close in NYSE, the Dow Jones Industrial Average rose 0.10%, while the S&P 500 index climbed 0.34%, and the NASDAQ Composite index added 0.74%.

Asia: Asian markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.52% while the Hang Seng is up 0.39%. The Nikkei 225 is not trading.

India: India stocks were lower after the close on Wednesday, as losses in the IT, Technology and Oil & Gas sectors led shares lower. At the close in NSE, the Nifty 50 fell 0.37%, while the BSE Sensex 30 index fell 0.37%. Market is expected to open positive note and likely to witness some positive move during the day

Global Economy: Japan’s trade deficit widened more than expected to a record high in August, driven by the increasing cost of energy imports as the yen hovered around 24-year lows. The country’s trade deficit widened to 2.82 trillion yen ($1.97 billion) in August, nearly doubling from last month’s reading of 1.43 trillion yen. Economists were expecting a deficit of 2.40 trillion yen.

China's central bank partially rolled over maturing mediumterm policy loans while maintaining the interest rate as hawkish U.S. Federal Reserve tightening limited room to manoeuvre monetary policy to support the economy. The PBOC said it was keeping the rate on 400 billion yuan ($57.46 billion) worth of one-year medium-term lending facility (MLF) loans to some financial institutions unchanged at 2.75% from the previous operation.

Commodities: Gold prices inched lower on Thursday, as a firmer dollar and expectations of big interest rate hikes from the U.S. Federal Reserve diminished the metal's appeal. Oil prices edged upwards in early Asian trade on Thursday, as supply concerns and a looming rail stoppage in the United States, the world's biggest crude consumer, supported markets.

Currency: : The dollar stood near recent peaks on Thursday as markets increased bets the Fed has more work to do in its aggressive tightening streak to curb red-hot inflation, while wariness of intervention kept the yen steady.

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