(RTTNews) – Indian shares look set to open on a positive note on Wednesday despite weak cues from global markets.
Underlying sentiment may remain underpinned somewhat after India and the U.S. termed ongoing trade negotiations as “positive and forward-looking” and agreed to accelerate efforts to reach a mutually beneficial trade agreement at the earliest.
Benchmark indexes Sensex and Nifty jumped around 0.7 percent each on Tuesday as Indian and U.S. officials resumed talks to iron out trade issues. The rupee gained 8 paise to close at 88.08 against the U.S. dollar.
Foreign investors turned net buyers and bought shares worth Rs 308 crore on Tuesday while domestic institutional investors continued to be net buyers and purchased shares to the tune of Rs 1,519 crore, according to provisional exchange data.
Asian markets were mostly lower this morning ahead of the Federal Reserve’s interest-rate decision later in the day.
China has called the framework deal to switch short-video app TikTok to U.S.-controlled ownership a “win-win” and said it would review TikTok’s technology exports and intellectual property licensing.
A call is now scheduled for Friday between U.S. President Donald Trump and Chinese President Xi Jinping in which the agreement should be confirmed.
The U.S. dollar index edged lower and hovered around levels last seen in March 2022. Treasuries held gains after a solid sale of 20-year bonds.
Gold traded lower after briefly breaching the $3,700-an-ounce level in the previous session.
Oil prices were little changed after rising sharply in the previous session as pressure mounted on Russia’s oil industry and the conflict in the Middle East flared up.
U.S. stocks slipped overnight as a two-day meeting of the Federal Reserve got underway. Investors ignored data that showed U.S. factory production unexpectedly increased in August and retail sales rose at a brisk pace for the third month in a row.
The Dow dipped 0.3 percent, the tech-heavy Nasdaq Composite finished marginally lower and the S&P 500 slid 0.1 percent.
European stocks ended lower on Tuesday, pressured by steep losses in the financial sector.
The pan European STOXX 600 fell 1.1 percent. The German DAX tumbled 1.8 percent, France’s CAC 40 lost 1 percent and the U.K.’s FTSE 100 shed 0.9 percent.
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