Sensex, Nifty Set For Flat Start On Muted Global Cues
(RTTNews) - Indian shares look set to open on a flat note Wednesday, tracking lackluster global cues. Stock-specific activity may be seen ahead of the start of Q1 earnings season. Foreign institutional investors (FIIs) bought shares worth over Rs. 2,134 crore on Tuesday to extend their buying spree for the fifth consecutive session, while domestic institutional investors (DIIs) offloaded shares worth Rs. 785.48 crore, according to the NSE data.
Benchmark indexes Sensex and Nifty eked out modest gains on Tuesday to reach fresh record closing highs for a fourth straight session.
The rupee ended slightly lower at 82.02 per dollar, compared to its close of 81.9575 in the previous session.
Asian markets were slightly lower this morning and Treasury yields slipped after a private survey showed growth in China's services sector slowed in June, adding to concerns over an economic recovery in the country.
The dollar held steady ahead of the release of minutes from the Federal Reserve's latest meeting later in the day.
Gold traded flat while oil prices eased, after having risen sharply on Tuesday amid news of extended supply cuts by top exporters Saudi Arabia and Russia.
U.S. markets were closed on Tuesday for the Independence Day holiday.
European stocks finished on a flat note Tuesday, giving up earlier gains ahead of data releases and the start of corporate earnings season.
The pan European STOXX 600 ended flat with a positive bias. The German DAX shed 0.3 percent, France's CAC 40 slipped 0.2 percent and the U.K.'s FTSE 100 eased 0.1 percent.
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