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Indian shares look set to open a tad lower on Wednesday, tracking mixed global cues as investors await key U.S. and European inflation readings this week for policy clues. <\/p>\n
Escalating tensions between Russia and Ukraine, unrest in the Middle East and the indefinite suspension of vessel traffic into and out of the Port of Baltimore after a cargo ship collision may also weigh on markets<\/span>. <\/p>\n Meanwhile, India’s current account deficit narrowed to $10.5 billion, or 1.2 percent of GDP, in the third quarter of FY2024 from $16.8 billion, or 2 percent of GDP, in the year-ago quarter, the latest RBI data revealed. <\/p>\n In the second quarter of FY2024, the deficit stood at $11.4 billion, or 1.3 percent GDP.<\/p>\n Benchmark indexes Sensex and Nifty fell around half a percent each on Tuesday while the rupee jumped 33 paise to close at 83.28 against the dollar on likely central bank intervention. <\/p>\n Asian markets traded mixed this morning and the dollar was little changed while Treasuries steadied after rebounding from session lows on Tuesday following a $67 billion sale of five year-notes.<\/p>\n Gold traded in a narrow range while oil extended overnight losses on industry data showing a large build in U.S. inventories. <\/p>\n U.S. stocks gave up early gains to end lower overnight as investors assessed the impact of a significant bridge collapse in the Baltimore port area on markets and the economy<\/span>. <\/p>\n On the data front, the latest readings on new orders for manufactured durable goods and consumer confidence painted a mixed picture of the world’s largest economy.<\/p>\n The Dow slipped marginally and the S&P 500 eased 0.3 percent to end lower for a third straight session, while the tech-heavy Nasdaq Composite shed 0.4 percent to extend losses for a second day. <\/p>\n European stocks rose on Tuesday in a relatively quiet and holiday-shortened week. The German DAX climbed 0.7 percent, France’s CAC 40 rose 0.4 percent and the U.K.’s FTSE 100 edged up 0.2 percent. <\/p>\n<\/p>\n<\/div>\n
The pan European STOXX 600 recovered from an early slide to finish 0.2 percent higher. <\/p>\n