Sensex, Nifty Seen Higher At Open

(RTTNews) - Indian shares are seen opening a tad higher on Wednesday, tracking mostly positive cues from global markets.

Investors will closely monitor the last leg of corporate earnings results and await the release of October retail inflation data for possible clues on the RBI's future monetary policy stance.

The Groww IPO listing and the much-awaited Tata Motors CV listing may also garner attention.

Benchmark indexes Sensex and Nifty rose around half a percent each on Tuesday, with trade deal hopes, U.S. shutdown resolution and expectations of Federal Reserve interest-rate cuts helping underpin investor sentiment.

The rupee inched up slightly to close at 88.56 against the dollar, helped by dollar sales from state-run banks and signs of progress in U.S.-India trade talks.

Foreign Institutional Investors offloaded shares worth Rs 803 crore on a net basis Tuesday, while domestic institutional investors net bought shares to the extent of Rs 2,188 crore, according to provisional exchange data.

Asian markets were broadly higher this morning, even as regional gains remained capped by mounting investor concerns over a potential Artificial Intelligence (AI)-driven market bubble.

The dollar traded weak, helping gold prices extend gains for a fourth day running. Oil prices were little changed after gaining about $1 on Tuesday.

U.S. stocks ended mixed overnight as jitters about AI-related stocks offset reports of progress toward ending the longest government shutdown in U.S. history.

Adding to signs of a deteriorating labor market, a weekly update of ADP's preliminary payroll figures showed that hat private employers shed an average of 11,250 jobs a week in the four weeks ending October 25.

Meanwhile, U.S. President Donald Trump warned of an economic and national security disaster if the Supreme Court ruled against his use of an emergency powers to impose sweeping tariffs.

The Dow rallied 1.2 percent to notch a record close amid expectations that the shutdown will end this week.

The S&P 500 rose 0.2 percent while the tech-heavy Nasdaq Composite shed 0.3 percent after Japan's SoftBank Group sold its entire stake in Nvidia Corp for $5.83 billion to help bankroll AI investments.

European stocks closed at a record high on Tuesday amid U.S. shutdown relief and BOE rate-cut bets.

The pan European Stoxx 600 jumped 1.3 percent. The German DAX rose half a percent, France's CAC 40 surged 1.3 percent and the U.K.'s FTSE 100 climbed 1.2 percent.