Sensex, Nifty Likely To Open Flat
(RTTNews) - Slightly weak SGX Nifty and the overnight flat close on Wall Street indicate a somewhat sluggish start for Indian shares on Wednesday.
Lingering uncertainty about interest rate hikes, and concerns about global economic slowdown may continue to render the mood cautious.
ICICI Lombard General Insurance reported a net profit of Rs 437 crore for the January-March quarter, up 40% from a net profit of Rs 312 crore it posted in the year-ago quarter.
Bank of India announced that its board has approved the raising of capital aggregating upto Rs 6,500 crore for the financial year 2023-24.
The benchmark BSE Sensex ended with a loss of 183.74 points or 0.31% at 59,727.01 on Tuesday, losing for the second consecutive day. The broader Nifty50 ended lower by 46.60 points or 0.26% at 17,660.20.
The U.S. market turned in a mixed performance on Tuesday with investors mostly making stock specific moves, reacting to quarterly earnings updates and digesting the latest economic data.
Investors also assessed the outlook for interest rates and looked to more earnings and data for clarity about the state of the economy.
The Dow ended lower by 10.55 points or 0.03% at 33,976.63. The S&P 500 edged up 3.55 points or 0.09% to 4,154.87, and the Nasdaq settled at 12,153.41, down 4.31 points or 0.04%.
Asian markets are mostly subdued today as interest rate concerns continue to outweigh fairly strong Chinese GDP growth.
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