(RTTNews) – Indian shares are seen opening little changed on Wednesday after the World Bank cut its India GDP growth forecast for FY22 to 8.3 percent from 10.1 percent estimated earlier in April.
Mixed global cues may also weigh on sentiment as investors await cues from a key U.S. inflation report and the ECB meeting outcome due this week.
Benchmark indexes Sensex and the Nifty ended a choppy session marginally lower on Tuesday, while the rupee fell by 9 paise to close at 72.89 against the U.S. dollar. Asian stocks were broadly lower this morning while oil prices rose for a second day after industry data showed U.S. crude oil inventories fell last week.
Oil settled at the highest in more than two years on Tuesday after U.S. Secretary of State Antony Blinken said hundreds of U.S. sanctions on Tehran likely would remain in place even if Iran and the United States return to compliance with the nuclear deal with world powers.
U.S. stocks ended a lackluster session on a flat note overnight as investors weighed worries over inflation and supply chain troubles against signs of a pandemic recovery.
The U.S. trade deficit narrowed in April