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Market Review

US:

U.S. stocks were lower after the close on Tuesday, as losses in the Utilities, Oil & Gas and Healthcare sectors led shares lower

Asia:

Asian stocks were steady Wednesday amid upward pressure on bond yields as investors await more details on the next leg of U.S. stimulus spending. The dollar held gains as it wraps up its best quarter in a year

India:

Indian indices ended over 2% higher on Tuesday, rising for the second straight session boosted mainly by IT, metal and financial stocks. Meanwhile, gains in global market shares also lifted the sentiment.The Sensex ended 1,128 points higher at 50,136 while the Nifty rose 338 points to settle at 14,845. Broader markets were also higher for the day with midcap and smallcap indices up 1.8 % and 1.2%, respectively. Market is expected to open gap down likely to witness profit booking during the day

Economy:

Producer prices in Brazil rose in February at their fastest rate since comparable records began seven years ago, intensifying "stagflation" pressures in an economy struggling with rising interest rates, a weak currency and a rampant COVID-19 pandemic.The monthly and annual rates of factory gate inflation in Latin America's largest economy jumped to 5.2% and 28.6%, respectively, both the highest since statistics agency Ibex's data series began in January 2014. The Italian economy could grow by around 4.25% this year, the International Monetary Fund said, hiking its previous forecast of 3% made in January.The IMF said its projection, made in a report following its annual so-called "Clause IV" visit to Italy, was dependent on COVID-19 vaccinations being well advanced by late summer and continued economic support measures.It warned that the latest forecast was surrounded by "considerable uncertainty".

Commodities:

Oil prices rose on Wednesday, paring overnight losses a day ahead of a meeting of OPEC and its allies, with investors betting the producers will largely agree to extend their supply curbs into May Gold prices inched lower on Wednesday as data showing a faster-than-expected growth in China's factory activity weighed on the metal's safe-haven appeal, while a surge in U.S. Treasury yields added further pressure

Currency:

: The dollar was up on Wednesday morning in Asia, rising to a fresh one-year high against the yen over investor bets that fiscal stimulus and an aggressive vaccine rollout will help the U.S. lead a global economic recovery from COVID-19.

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