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Market Review

US: The US stock market finished session higher on Monday, as bargain buying continued, with shares of Tesla, Qualcomm, and Hostess Brands leading gains ahead to Wednesday’s inflation data .

Asia: Asia-Pacific markets rose across the board Tuesday, after Wall Street saw a tech rally led by Tesla and Qualcomm.

India: On Monday, Nifty and Sensex ended in the green for the sixth day in a row. Nifty touched its new record high of 20,008.15 level. Nifty's last all-time high was 19,991.85, which it hit on July 20, this year. Thus, it scaled a new record in 36 sessions. Market is expected to open on a gap up and likely to witness positive move during the day.

Global Economy: The euro zone economy will grow slower than previously expected this year and next, the European Commission forecasts as consumer demand suffers from high inflation and the biggest economy, Germany, slips into recession this year. In its interim forecasts for gross domestic product and inflation of the euro zone's five biggest economies, the Commission said the single currency area's GDP would expand 0.8% in 2023 and 1.3% in 2024, against forecasts of 1.1% and 1.6% respectively made in May.

Australian consumer sentiment deteriorated further in earlySeptember, as dwindling household savings, sticky inflation, and high interest rates largely outweighed a less hawkish outlook for the RBA. The Westpac-Melbourne Institute Index of Consumer Sentiment dropped 1.5% to 79.7 in September, remaining close to its worst level since the 2020 COVID-19 pandemic. The reading was driven by persistent pessimism among consumers, especially over rising rents and a renewed surge in fuel prices.

Commodities: Gold prices were listless on Tuesday as investors awaited the release of US inflation figures that could provide an updated view on interest rates after a widely expected pause by the Federal Reserve next week. Oil prices moved little in Asian trade on Tuesday as markets awaited forecasts on supply and demand from an OPEC report due later in the day, although optimism over recent supply cuts kept prices near 10-month highsCommodities: Gold prices were listless on Tuesday as investors awaited the release of US inflation figures that could provide an updated view on interest rates after a widely expected pause by the Federal Reserve next week. Oil prices moved little in Asian trade on Tuesday as markets awaited forecasts on supply and demand from an OPEC report due later in the day, although optimism over recent supply cuts kept prices near 10-month highs

Currency: The yen steadied near a one-week high on Tuesday as comments from Japan's top central banker on a possible end to its negative interest rate policy reverberated through markets, while the dollar regained some lost ground..

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