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Indian shares look set to open on a cautious note Wednesday as other Asian markets<\/span> traded weak despite overnight gains on Wall Street. <\/p>\n Domestic cues remain positive, with international ratings agency Moody’s upgrading the outlook on India’s sovereign rating to ‘stable’ from ‘negative’ in a revision after nearly two years.<\/p>\n The decision to change the outlook to stable reflects Moody’s view that the downside risks from negative feedback between the real economy<\/span> and financial system are receding.<\/p>\n Benchmark indexes Sensex and the Nifty climbed 0.8 percent and 0.7 percent, respectively on Tuesday after a survey showed India’s services industry expanded for a second straight month in September. The rupee slipped 13 paise to close at 74.44 against the greenback. <\/p>\n Asian markets fell broadly this morning and Treasury yields extended an advance as rising energy prices and supply-chain gridlock resurrected conversations about stagflation.<\/p>\n The dollar hovered close to its highs for the year and crude oil steadied near a seven-year high while Bitcoin held a climb past the $51,000 mark.<\/p>\n U.S. stocks rose overnight as a measure of services industry activity rose in September despite supply chain troubles and a key lawmaker said the Senate will vote on Wednesday on a Democratic-backed measure to suspend the U.S. debt ceiling.<\/p>\n The Dow gained 0.9 percent, the tech-heavy Nasdaq Composite rallied 1.3 percent and the S&P 500 added 1.1 percent. <\/p>\n European stocks also closed higher on Tuesday after a survey showed business<\/span> growth across Europe remained strong last month despite shortages of inputs.<\/p>\n The pan European Stoxx 600 advanced 1.2 percent. The German DAX gained 1.1 percent, France’s CAC 40 index surged 1.5 percent and the U.K.’s FTSE 100 rose 0.9 percent. <\/p>\n<\/p>\n<\/div>\n