Indian Shares Seeking Rebound; IT Stocks In Focus

(RTTNews) - Indian shares are seen opening on a positive note Wednesday, tracking firm cues from global markets.

Concerns about the disruptive effects of artificial intelligence eased somewhat after AI startup Anthropic PBC emphasized partnerships with companies, adding its Claude chatbot technology will integrate with, rather than displace, existing businesses.

Benchmark indexes Sensex and Nifty slumped by 1.3 percent and 1.1 percent, respectively on Tuesday, with uncertainties over the India-U.S. trade deal, U.S.-Iran tensions and worries over AI-related disruptions weighing on markets.

The rupee settled 6 paise lower at 90.95 against the U.S. dollar amid a firm greenback and higher crude oil prices.

Foreign investors net sold shares worth Rs 103 crore on Tuesday while domestic institutional investors net bought shares to the extent of Rs 3,161 crore, according to provisional exchange data.

Asian markets followed Wall Street higher this morning ahead of Nvidia's earnings report due later in the day.

Treasuries edged lower, the dollar index was little changed, and gold surged toward $5,200 an ounce ahead of President Trump's annual State of the Union (SOTU) address to Congress.

Oil prices held near seven-month highs as traders weighed the risk of possible military escalation in the Middle East ahead of nuclear talks between the United States and Iran this week.

U.S. stocks bounced back overnight as tech stocks rebounded from recent losses and a survey showed consumer sentiment picked up pace in February.

Trump's imposition of a 10 percent global tariffs under a different legal framework, rather than the 15 percent tariffs announced earlier, also helped spur some relief over his trade agenda.

The tech-heavy Nasdaq Composite surged 1 percent as AMD announced a major supply deal with Meta.

The Dow and the S&P 500 both added around 0.8 percent after suffering heavy losses in the previous session.

European stocks ended mixed on Tuesday, with a resurgence in trade uncertainty coupled with artificial-intelligence disruption concerns keeping investors on edge.

The pan-European Stoxx 600 added 0.2 percent. The German DAX and the U.K.'s FTSE 100 both closed marginally lower while France's CAC 40 edged up by 0.3 percent.