Indian Shares Seen Tad Higher At Open

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(RTTNews) – Indian shares are seen opening on a positive note Wednesday as vital medical supplies pour into the country to fight the deadly second wave.

Around 15 countries are rushing critical emergency use equipment as India reported 3,286 new fatalities on Tuesday, taking the total number of deaths in the country since the start of the pandemic to 201,187.

India set a new record for daily infections on Tuesday with 362,850 new cases, taking the total number of confirmed cases to 17,988,476.

Benchmark indexes Sensex and the Nifty rose over 1 percent on Tuesday to extend gains for the second day running while the rupee edged up by seven paise to close at 74.66 against the dollar.

Asian markets are trading mixed this morning and the dollar edged up slightly, as many traders stuck to the sidelines ahead of the Federal Reserve’s latest monetary policy decision.

Oil prices fell in Asian trade, paring overnight gains, as traders react to API data showing a bigger-than-expected build in U.S. crude stocks and the decision by the Organization of the Petroleum Exporting Countries (OPEC) and its allies to gradually increase oil output.

U.S. stocks ended flat to slightly lower overnight as Treasury yields climbed and Tesla’s results failed to impress investors. The Dow and the S&P 500 ended nearly flat while the tech-heavy Nasdaq Composite slipped 0.3 percent.

European stocks edged lower on Tuesday even as travel stocks rallied on hopes of a post-Covid rebound.

The pan European Stoxx 600 ended little changed with a negative bias. The German DAX and the U.K.’s FTSE 100 dipped around 0.3 percent, while France’s CAC 40 index finished marginally lower.