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USA: The Dow Jones closed lower after leading the upside early Wednesday. Stocks abruptly turned negative after the Federal Reserve's rate decision and Chair Jerome Powell's news conference.

Asia: Asia-Pacific markets traded lower after the U.S. Federal Reserve raised its benchmark interest rate by 50 basis points to the highest level in 15 years.

India: The broader markets, on the other hand, outperformed the benchmark indices as the BSE MidCap and SmallCap indices advanced 0.59% and 0.68%, respectively.

Market is expected to open on a negative note and likely to witness profit booking during the day.

Global Economy: Chinese industrial production and retail sales read well below expectations in November, as rising COVID-19 cases and increased restrictions to curb the virus weighed heavily on the economy. Retail sales were the bigger disappointment of the two, sinking a bigger-than-expected 5.9% in November after shrinking 0.5% in October. Markets were expecting a contraction of 3.7%.

Japan's imports surged in November, outpacing exports and resulting in the 16th straight month of trade deficits, as the spectre of a global slowdown added to the country's worsening terms of trade. Imports rose 30.3% year-on-year in November, versus the 27.0% increase expected by economists and a 53.5% jump in October, Ministry of Finance (MOF) data showed on Thursday. The surge was a record for the month of November and led by crude oil, coal and liquefied natural gas

Commodities: Gold prices inched down in early Asian hours on Thursday, after the U.S. Federal Reserve signalled to more interest rates hikes next year

Oil prices were largely unchanged in early Asian trade on Thursday as traders weighed optimism over China's demand outlook against the possibility of further interest rate hikes from global central banks

Currency: The dollar was on the back foot on Thursday, even as the Federal Reserve kept to its hawkish rhetoric after raising rates by half a percentage point, as investors were doubtful over how much the central bank would commit to putting the brakes on growth to curb inflation.

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