Indian shares to open higher ahead of Fed decision
Indian shares are expected to rise at open on Wednesday, tracking Asian markets, while investors continue to monitor developments in the Middle East ahead of a key Federal Reserve policy decision later in the day.
Asian stocks rebounded after a brutal selloff a day earlier as anxiety about valuations, rising competition and AI spending rocked markets ahead of crucial earnings from big tech firms. [MKTS/GLOB]
The U.S. central bank is seen as more likely to leave interest rates steady even as a growing number of its policymakers fret openly about inflation.
India's GIFT Nifty futures were at 24,225.5 as of 7:52 a.m. IST, indicating the benchmark Nifty 50 could open above Tuesday's close of 23,985.35.
Brent crude futures jumped about 5% on shrinking U.S. crude inventories after slipping 16.5% in the previous three sessions on a pause in fighting between Washington and Tehran. [O/R]
The U.S. military said it intercepted multiple ballistic missiles launched by Iran towards U.S. forces in the Middle East.
U.S. President Donald Trump has said there were "good talks" under way but threatened to restart strikes unless negotiations delivered.
In India, earnings and institutional flows are on investors' radar.
Foreign investors bought shares worth 7.55 billion rupees ($78.8 million) on Tuesday, as per provisional data. This was their net purchase in five sessions.
STOCKS TO WATCH
** India's top construction firm Larsen & Toubro maintains annual revenue and margin forecast, after posting a higher first-quarter profit driven by strong project execution and steady order inflows
** Sugar stocks will be in focus after a government notification said that no sugar dealer can hold stocks for more than 30 days
($1 = 95.8525 Indian rupees)
