{"id":10868,"date":"2021-06-16T03:08:15","date_gmt":"2021-06-16T03:08:15","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/06\/16\/sensex-nifty-likely-to-see-cautious-start\/"},"modified":"2021-06-16T03:08:15","modified_gmt":"2021-06-16T03:08:15","slug":"sensex-nifty-likely-to-see-cautious-start","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/06\/16\/sensex-nifty-likely-to-see-cautious-start\/","title":{"rendered":"Sensex, Nifty Likely To See Cautious Start"},"content":{"rendered":"
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Indian shares look set to open on a cautious note Wednesday after recent rallies to record highs. <\/p>\n

India’s trade deficit narrowed to $6.3 billion in May from $15.1 billion in April, data released by the Commerce Ministry showed as imports of gold crashed. <\/p>\n

Investors await the outcome of a Federal Reserve meeting later in the day for further clarity on policymakers’ view on rising inflation, growth outlook and monetary policy going forward.<\/p>\n

Amid the threat of higher prices and a tightening labor market, it is expected that the Fed could signal that it is beginning to think about scaling back its asset purchases.<\/p>\n

Benchmark indexes Sensex and the Nifty eked out modest gains on Tuesday to reach fresh record closing highs, while the rupee closed at a one-month low of 73.31 against the greenback on data showing a larger-than-expected surge in retail inflation in May. <\/p>\n

Asian markets<\/span> were mostly lower this morning, as investors awaited the Fed decision as well as a slew of Chinese data due out later in the day for direction. <\/p>\n

The dollar held near one-month high and the benchmark 10-year Treasury yield hovered around the 1.5 percent mark, while Brent crude prices added about 1 percent in Asian trade, after rising 1.6 percent on Tuesday. <\/p>\n

U.S. stocks ended lower overnight after separate reports showed Americans slowed their spending in May and producer prices rose at their fastest annual clip in nearly 11 years in the month. <\/p>\n

New York manufacturing activity cooled somewhat in June and confidence among homebuilders declined to a 10-month low, while a measure of industrial production grew at a stronger pace than expected in May. <\/p>\n

The Dow shed 0.3 percent, the S&P 500 eased 0.2 percent and the tech-heavy Nasdaq Composite gave up 0.7 percent. <\/p>\n

European stocks ended Tuesday’s session modestly higher in record territory for the eight day in a row as traders awaited clues from the Fed meeting. <\/p>\n

The pan European Stoxx 600 edged up 0.1 percent. The German DAX, France’s CAC 40 index and the U.K.’s FTSE 100 all rose about 0.4 percent. <\/p>\n<\/p>\n<\/div>\n