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Sensex, Nifty May Struggle For Direction On Mixed Global Cues
(RTTNews) - Indian shares may struggle for direction on Wednesday, as investors await Fed Chair Jerome Powell's speech at a Brookings Institution event later today for additional clues about his thinking on inflation and interest-rate hikes. Benchmark indexes Sensex and Nifty rose around 0.3 percent each on Tuesday to extend gains for a sixth straight session, while the rupee closed marginally lower at 81.72 per dollar.
Asian markets were trading mixed this morning as investors weighed the latest developments in China.
China's factory activity data missed expectations and Japan and South Korea reported disappointing industrial production figures, putting growth worries back in focus.
A dollar gauge declined, Treasuries were little changed, and gold edged up slightly while oil steadied after two days of gains.
U.S. stocks ended mixed overnight as Chinese health officials defended the country's zero-COVID policy at a press briefing but said lockdowns would be lifted "as quickly as possible".
The Dow ended flat with a positive bias while the S&P 500 slipped 0.2 percent and the tech-heavy Nasdaq Composite shed 0.6 percent to end lower for a third day running.
European stocks also ended a choppy session on a mixed note Tuesday despite positive German inflation and Eurozone economic confidence data.
The pan European STOXX 600 slid 0.1 percent. The German DAX eased 0.2 percent, while France's CAC 40 index finished marginally higher and the U.K.'s FTSE 100 rose half a percent.
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