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Market Review US:

US stocks rose modestly on Tuesday, with the S&P 500 and Dow Jones Industrial average notching record closes. Investors digested China's launch of aggressive stimulus and a notable dip in US consumer sentiment.

Asia:

Indices in the Asia-Pacific region rose in early trade on Wednesday after Chinese authorities eased liquidity to boost economic growth.

India:

Benchmark equity indices closed flat after the NSE Nifty 50 briefly crossed the significant 26,000 mark in the final hour of trading. Market is expected to open on a flattish note and likely to witness range bound move during the day.

Global economy:

Australian consumer price index inflation eased as expected in August, hitting a three-year low following government programs aimed at curbing high energy costs, while declines in core inflation were much less pronounced. CPI inflation grew 2.7% year-on-year, data from the Australian Bureau of Statistics showed on Wednesday. The reading was in line with expectations and eased sharply from the 3.5% seen last month. Core inflation- which excludes volatile items such as fuel, fresh food and holiday spending, fell to 3% in August from 3.7% in the prior month. Japanese manufacturing activity shrank more than expected in September as major automakers continued to grapple with production disruptions, while services activity picked up on strong consumer demand. The au Jibun Bank manufacturing purchasing managers index read 49.6 in early-September, less than expectations of 49.9 and worse than the 49.8 seen in the prior month.

Commodities:

Oil prices steadied on Wednesday after rising in the previous session on fading excitement for the economic stimulus in China, the world's biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market. Gold prices remained steady near record highs on Wednesday, supported by a weaker dollar and heightened Middle East conflict

Currency:

The Australian and New Zealand dollars reached multi-month highs, driven by China's aggressive stimulus measures. The yuan also hit its strongest level in over a year. Despite a slight dip in the Aussie after domestic inflation data, global markets were buoyed by China's support measures, impacting currencies linked to its economy.

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