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Market Review

US: U.S. stocks retreated on Tuesday, with the S&P 500 and Nasdaq snapping five-session winning streaks as retailers declined after some disappointing outlooks and as technology shares fell.

Asia: Asain shares dropped on Wednesday after the rally in US stocks took a breather as investors mostly shrugged off minutes from the Federal Reserve's latest meeting.

India: Benchmark equity indices ended with gains on Thursday as sentiments turned buoyant amid fresh foreign inflows and buying in IT counters.

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

Global Economy: U.S. existing home sales dropped to the lowest level in more than 13 years in October as the highest mortgage rates in two decades and a dearth of houses drove buyers from the market. The median house price last month was the highest for any October. Barring a rebound in November and December, home resales this year are on track for their worst performance since 1992.Existing home sales tumbled 4.1% last month to a seasonally adjusted annual rate of 3.79 million units, the lowest level since August 2010 when the sales were declining following the expiration of a government tax credit for homebuyers.

Sri Lanka's consumer price inflation rose to 1% in October yearon-year from 0.8% in September.The National Consumer Price Index (NCPI), which captures broader retail price inflation, is released with a lag of 21 days every month.Food prices fell 5.2% in October after declining 5.2% in September, from a year earlier.Prices for non-food items, however, climbed 6.3% in October after rising 5.9% yoy in September.Sri Lanka racked up record high inflation last year after its economy was pummelled by the worst financial crisis in decades, triggered by a sharp decline in foreign exchange reserves.

Commodities: Gold held below the key $2,000 level on Wednesday, as the dollar stabilised from its recent drop, although expectations that the U.S. Federal Reserve has reached the end of its tightening cycle put a floor under bullion prices.

Oil prices moved little in Asian trade on Wednesday after industry data pointed to a substantial build in U.S. inventories, while traders continued to hold out for more supply cuts by the Organization of Petroleum Exporting Countries.

Currency: The dollar index held around 2-1/2-month lows after minutes of the Federal Reserve's last meeting did little to dislodge market expectations that its monetary tightening cycle was over.

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