{"id":48098,"date":"2024-06-12T02:30:27","date_gmt":"2024-06-12T02:30:27","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/06\/12\/sensex-nifty-seen-tad-lower-ahead-of-industrial-output-inflation-readings\/"},"modified":"2024-06-12T02:30:27","modified_gmt":"2024-06-12T02:30:27","slug":"sensex-nifty-seen-tad-lower-ahead-of-industrial-output-inflation-readings","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/06\/12\/sensex-nifty-seen-tad-lower-ahead-of-industrial-output-inflation-readings\/","title":{"rendered":"Sensex, Nifty Seen Tad Lower Ahead Of Industrial Output, Inflation Readings"},"content":{"rendered":"
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Indian shares may open a tad lower on Wednesday as investors react to mixed global cues and await industrial production and retail inflation figures for direction.<\/p>\n

The World Bank has retained its growth forecast for India at 6.6 percent for FY25 and said the country will continue to be the fastest-growing major economy<\/span>.<\/p>\n

Meanwhile, Morgan Stanley said it remains bullish on Indian equities due to strong earnings growth, driven by structural reforms. <\/p>\n

It expects India’s per-capita income to more than double by fiscal 2034, potentially unlocking further domestic consumption.<\/p>\n

Benchmark indexes Sensex and Nifty ended a choppy session on a flat note Tuesday while the rupee ended at a record low of 83.57 against the dollar. <\/p>\n

Asian markets<\/span> traded mixed this morning as caution prevailed ahead of the release of U.S. consumer price data and the Federal Reserve interest-rate decision later in the day. <\/p>\n

The Fed is widely expected to leave interest rates unchanged, but traders will pay closer attention to Fed officials’ updated projections for the economy and rates.<\/p>\n

Market participants see diminished prospects for easing this year, with many analysts expecting the first rate cut by the Federal Reserve only in November.<\/p>\n

The dollar was little changed in Asian trading after hitting a four-week high against peer currencies overnight. Treasuries steadied after climbing on a solid $39 billion sale.<\/p>\n

Gold edged lower while oil extended gains after industry data pointed to shrinking U.S. crude stockpiles.<\/p>\n

U.S. stocks ended mixed overnight as Apple unveiled its artificial intelligence features and Treasury yields extended their decline ahead of upcoming inflation data and the Federal Reserve’s policy meeting.<\/p>\n

The tech-heavy Nasdaq Composite climbed 0.9 percent and the S&P 500 edged up 0.3 percent to reach new record closing highs while the Dow dipped 0.3 percent. <\/p>\n

European stock fell on Tuesday as EU political uncertainty weighed and U.K. employment data painted a mixed picture of the economy. <\/p>\n

The pan European STOXX 600 declined 0.9 percent. The German DAX shed 0.7 percent, France’s CAC 40 gave up 1.3 percent and the U.K.’s FTSE 100 lost 1 percent. <\/p>\n<\/p>\n<\/div>\n