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Market Review

US: Wall Street's three major averages closed lower on Tuesday with the Dow leading declines as Treasury yields rose along with oil prices and investors assessed prospects for the Federal Reserve's interest rate path.

Asia: Stocks fell on Wednesday after weak economic data in China and Europe heightened concerns over global growth, while the dollar firmed as investors weighed the outlook for US interest rates.

India: The benchmark indices ended higher for the third consecutive session on September 5 with the Nifty above 19,550 led by mid-smallcap stocks and buying across the sectors. Among sectors, banks were down marginally, while other sectors ended in the green with healthcare and realty added 1 percent each The market is expected to open positive note and likely to witness positive move during the day.

Global Economy: Australia's export volumes jumped in the June quarter as foreign visitors swarmed the country, offsetting softness in household consumption and providing a muchneeded boost to economic growth. Saudi Arabia will extend its voluntary oil output cut of 1 million barrels per day (bpd) for another three months until the end of December 2023, while Russia extended its voluntary decision to reduce its oil exports by 300,000 bpd to the end of this year.

Commodities: Gold prices climbed towards a one-month peak, supported by a slight pullback in the dollar and prospects that the U.S. Federal Reserve would take a pause from interest rate hikes this year, news agency Reuters reported. Brent oil rallied to $90 a barrel for the first time since November as key OPEC+ producers extended supply cuts that have tightened the crude market.

Currency: The U.S. dollar rose to a near six-month high against a basket of currencies as the Chinese economic data fueled worries over global growth and pushed investors into the safehaven U.S. currency

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