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Market Review

US: US stocks was closed

Asia: Asian shares fell Wednesday in subdued trading following a holiday for US markets. Treasury yields moved lower and major currencies moved within narrow ranges.

India: Equity benchmark indices Sensex and Nifty advanced further to settle at record highs for the fourth straight session on Tuesday, driven by unabated foreign fund inflows and largely bullish investor sentiments. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 274 points or 0.42 per cent to settle at its all-time closing high of 65,479.05..

Market is likely to open on a flattish note and likely to witness positive move during the day.

Global Economy: China's services activity expanded at the slowest pace in five months in June, a private-sector survey showed on Wednesday, as weakening demand weighed on post-pandemic recovery momentum.The Caixin/S&P Global services PMI eased to 53.9 in June from 57.1 in May, the lowest reading since January when COVID-19 swept through the country after authorities ditched anti-virus curbs

Japan's service activity maintained a brisk pace of growth in June as the relaxation of pandemic-related restrictions revived consumer demand.The final au Jibun Bank Japan Services PMI fell to a seasonally adjusted 54.0 last month from a record-high 55.9 in May.

Commodities: Oil prices were flat in Asian trade on Wednesday as traders sought more cues on monetary policy from the minutes of the Federal Reserve’s June meeting, while fears of a renewed U.S.-China trade war also dented sentiment.

Gold prices steadied after mild overnight gains on Wednesday as investors hunkered down before the minutes of the Federal Reserve’s June meeting, while copper prices ticked lower amid fears of a renewed U.S.-China trade war.

Currency: The dollar drifted near the middle of its range of the past three weeks against major peers on Wednesday, as traders looked ahead to the release of minutes from the Federal Reserve's latest meeting for clues about the path for monetary policy

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