Sensex, Nifty Set To Open Lower On Pre-earnings Jitters

(RTTNews) - Indian shares look set to open on a subdued note Wednesday as investors await earnings from IT majors TCS and Infosys for directional cues. Analysts expect muted revenue growth because of global uncertainties.

The World Bank warned on Tuesday that global growth in 2024 is set to slow for a third year in a row amidst mounting geopolitical tensions and slowing growth in most major economies.

Benchmark indexes Sensex and Nifty gave up early gains to end on a flat note Tuesday despite strong global cues.

Asian markets traded mostly lower this morning, with Japanese shares bucking the weak regional trend on bets the Bank of Japan will not rush to end its ultra-loose monetary policy.

Gold was little changed, and the dollar held steady while bitcoin was volatile after a fake social media post rattled markets.

Oil extended overnight gains as signs of supply disruptions in the Middle East persisted.

U.S. stocks ended mostly lower overnight while bond yields rose as investors awaited cues from inflation data and the start of fourth-quarter earnings season.

While the tech-heavy Nasdaq Composite finished marginally higher, the Dow gave up 0.4 percent and the S&P 500 eased 0.2 percent.

European stocks fell on Tuesday after mixed readings on German industrial output, British retail sales and Eurozone unemployment.

The pan European STOXX 600 slid 0.2 percent. The German DAX slipped 0.2 percent, France's CAC 40 shed 0.3 percent and the U.K.'s FTSE 100 edged down 0.1 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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