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Market Review

US: US stock indices edged higher on Tuesday after previous session's sharp losses amid a tech-led selloff.

Asia: Asian shares rose Wednesday morning to follow Wall Street’s tech-led rebound from a selloff that shook global markets, as focus turns to the Federal Reserve’s rate decision and US mega-cap earnings.

India: The benchmark equity indices settled in positive territory on Tuesday as the banking stocks stole the show in the sectorial markets, with Nifty Bank, PSB, and private bank indices each ending higher by over 1 per cent. Market is expected to open on a positive note and likely to witness range bound move during the day

Global economy: Australian consumer price index inflation grew slightly less than expected in the fourth quarter, while underlying inflation also eased but still remained above the Reserve Bank of Australia’s target range. CPI grew 2.4% yearon-year in Q4, its slowest pace since early 2021, data from the Australian Bureau of Statistics showed on Wednesday. The American Petroleum Institute has reported a rise in the inventory levels of US crude oil, gasoline, and distillate stocks. The actual increase in crude inventories was 2.860 million barrels, a figure that provides an overview of US petroleum demand. This increase, while significant, was less than the forecasted rise of 3.700 million barrels.

Commodities: Oil prices steadied on Wednesday as investors weighed the impact of potential U.S. tariffs on Canadian and Mexican imports, while largely shrugging off an increase in U.S. weekly crude inventory.

Gold prices were stable on Wednesday, recovering slightly after a tech-driven market selloff, as uncertainty over U.S. tariffs spurred safe-haven demand, while focus shifted to the Federal Reserve's meeting conclusion due later in the day.

Currency: The US dollar rose, rebounding after the previous session’s losses in the wake of a selloff in technology stocks, on heightened concerns about trade wars and their impact on global growth.

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