Sensex, Nifty To See Cautious Start Ahead Of Key Earnings

(RTTNews) - Indian shares are seen opening flat to slightly lower on Wednesday as investors await the June quarter numbers of IT companies for directional cues.

TCS and HCL Tech will unveil their quarterly earnings today followed by Wipro on July 13.

Meanwhile, U.S. banking giant Goldman Sachs has predicted that India will become the world's second-largest economy by 2075, surpassing not only Japan and Germany but also the U.S.

Benchmark indexes Sensex and Nifty rose modestly on Tuesday to extend gains for a second straight session while the rupee ended 20 paise higher at 82.37 against the dollar.

Foreign institutional investors (FIIs) remained net buyers of Indian equities for the tenth consecutive day on Tuesday, pumping in more than Rs.1,197 crore, while domestic institutional investors (DIIs) were net sellers with an outflow of Rs. 7.25 crore, stock exchange data showed.

Asian markets were mostly lower this morning, while gold edged higher as the dollar and bond yields fell ahead of U.S. inflation data due later in the day, expected to show moderation in price pressures.

Oil extended overnight gains despite data showing a bigger-than-expected build in U.S. crude stockpiles.

U.S. stocks advanced overnight as Beijing extended its policy support to the ailing property sector and bond yields remained capped ahead of key inflation reports and bank earnings this week.

The Dow gained 0.9 percent, the tech-heavy Nasdaq Composite surged 0.6 percent and the S&P 500 added 0.7 percent.

European stocks ended on a firm note Tuesday after comments from a trio of Fed officials suggested that the U.S. central bank was nearing the end of its monetary policy tightening cycle.

The pan European STOXX 600 rose 0.7 percent to extend gains for a third straight session.

The German DAX climbed 0.8 percent, France's CAC 40 rallied 1.1 percent and the U.K.'s FTSE 100 edged up 0.1 percent.