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Sensex, Nifty Seen Opening Flat As Investors Await Fed Decision
(RTTNews) - Indian shares are seen opening little changed on Wednesday as investors await the Fed's interest-rate decision later in the day and the messaging around future guidance on rates for directional cues.
Benchmark indexes Sensex and the Nifty ended a choppy session modestly lower on Tuesday, extending losses for the third straight session. The rupee ended almost flat at 78.03 against the dollar.
Asian stocks traded mixed this morning, with mainland Chinese and Hong Kong markets rising sharply as data showed China's industrial output unexpectedly increased and retail sales fell less than expected in May.
The dollar continued to hold recent gains and gold prices edged up slightly, while oil prices extended overnight losses on worries over fuel demand.
U.S. stocks ended mixed overnight after a measure of producer prices increased solidly in May, underscoring the ongoing threat to the economy from a bout of inflation.
The Dow dipped half a percent and the S&P 500 slipped 0.4 percent to extend losses for a fifth straight session, while the tech-heavy Nasdaq Composite index edged up 0.2 percent.
European stocks extended their selloff for a sixth straight session on Tuesday amid worries that aggressive monetary policy tightening by central banks could push the global economy into a recession.
The pan European Stoxx 600 gave up 1.3 percent. The German DAX dropped 0.9 percent, France's CAC 40 index fell 1.2 percent and the U.K.'s FTSE 100 eased 0.3 percent.
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