Sensex, Nifty Seen Little Changed At Open

Indian shares look set to open on a flat note Wednesday, tracking mixed cues from global markets.

Underlying sentiment may remain cautious somewhat as investors await the minutes of the Federal Reserve’s monetary policy meeting later in the day for additional clues on when the U.S. central bank will start to cut interest rates.

Shares of Zee Entertainment Enterprises may see increased activity following reports that SEBI has unearthed a $241 million discrepancy in the company accounts. after its collapsed merger with Sony Group.

Benchmark indexes Sensex and Nifty eked out modest gains on Tuesday, erasing early losses. The rupee gained 6 paise to settle at 82.95 against the dollar.

Asian markets traded mostly lower this morning and the dollar tracked bond yields lower while gold held steady after hitting over one-week high.

Oil was little changed after settling lower on Tuesday, reflecting lingering concerns about the outlook for demand.

U.S. stocks ended lower overnight as hopes for early rate cuts faded and investors awaited cues from AI-darling Nvidia’s earnings results.

The tech-heavy Nasdaq Composite shed 0.9 percent, the S&P 500 dropped 0.6 percent and the Dow eased 0.2 percent.

European stocks ended mixed on Tuesday amid much uncertainty about the timing of interest rate cuts. The pan-European STOX 600 edged down 0.1 percent.

The German DAX and the U.K.’s FTSE 100 both slipped around 0.1 percent while France’s CAC 40 rose 0.3 percent.

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