Sensex, Nifty Seen Higher On Firm Global Cues

(RTTNews) - Indian shares look set to open higher on Wednesday, mirroring firm cues from global markets following upbeat news from Nvidia and Microsoft.

Meanwhile, India's industrial production expanded at a slightly slower pace in September amid a contraction in mining activity, data from the Ministry of Statistics and Program Implementation showed.

Industrial output climbed 4.0 percent year-over-year in September, following an upwardly revised 4.1 percent growth in August. Nonetheless, that was well above the expected increase of 2.6 percent.

Benchmark indexes Sensex and Nifty ended down around 0.2 percent and 0.1 percent, respectively on Tuesday as investors locked in some profits after recent gains. The rupee fell by 8 paise to close at 88.27 against the dollar.

Asian markets were broadly higher this morning ahead of the Federal Reserve's interest rate decision later in the day, a barrage of big U.S. tech earnings due this week and Thursday's high stakes meeting between U.S. President Donald Trump and his counterpart Xi Jinping.

The U.S. dollar hovered close to a one-week low versus major peers while gold traded higher after its recent sharp fall.

Oil extended losses for a fourth day running as investors weighed the impact of potential OPEC+ plan to raise output on global supply.

U.S. stocks fluctuated before closing at fresh record highs for a second day in a row overnight due to Fed rate cut expectations and signs of easing U.S.-China trade tensions.

The Wall Street Journal reported that the U.S. would roll back some tariffs on China if Beijing cracks down on the shipment of ingredients that make fentanyl.

The tech-heavy Nasdaq Composite surged 0.8 percent, boosted by a series of artificial intelligence (AI) deals. The Dow gained 0.3 percent and the S&P 500 added 0.2 percent.

European stocks settled mostly lower on Tuesday after reaching record peaks in the previous session.

The pan European Stoxx 600 dipped 0.2 percent after a measure of German consumer confidence fell to its lowest level since April.

The German DAX slipped 0.1 percent and France's CAC 40 shed 0.3 percent while the U.K.'s FTSE 100 rose 0.4 percent.