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Market Review

US: U.S. stocks rallied Tuesday after slowing increases in supplier prices offered more evidence that inflationary pressures could be easing.

Asia: Shares in the Asia-Pacific fell on Wednesday as world leaders gathered in Bali, Indonesia for a second day of the Group of 20 summit.

India: After exhibiting lacklustre movement for major part of the trading session, the key benchmark rallied smartly in late deals on the back of buying support in select index heavyweights like ICICI Bank, Bharti Airtel and Infosys. 

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

Global Economy: U.S. producer prices increased less than expected in October as services fell for the first time in nearly two years, offering more evidence that inflation was starting to subside, potentially allowing the Federal Reserve to slow its aggressive pace of interest rate hikes. Consumer prices rose less than expected in October, pushing the annual increase below 8% for the first time in eight months.

Australian wages boasted the largest rise in a decade last quarter as a super-tight labour market finally made itself felt, though pay still lags far behind inflation in a squeeze on real incomes. The wage price index rose 1.0% in the September quarter from the previous quarter and the largest gain since early 2012

Commodities: Gold prices steadied near a three-month peak on Wednesday as signs of cooling U.S. inflation boosted bets for smaller rate hikes, while reports around Russian missiles killing two people in Poland led to some demand for safe-haven assets. Oil prices were little changed on Wednesday as COVID-19 cases in China continued to climb, sparking worries of lower fuel demand in the world's top crude importer, and outweighing concerns about an escalation of geopolitical tensions and tighter oil

Currency: The safe-haven U.S. dollar edged higher against major peers on Wednesday as markets continued to assess news of a Russian-made rocket striking NATO-member Poland, and whether it could lead to an escalation of the Ukraine war.

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