Sensex, Nifty Poised To Open On Flat Note

(RTTNews) - Indian shares may open on a flat note Wednesday as investors await the Federal Reserve's last interest rate decision of the year later in the day.

Shares of Vishal Mega Mart, Mobikwik and Sai Life Sciences will list on the stock exchanges today.

Benchmark indexes Sensex and Nifty fell around 1.3 percent each on Tuesday as concerns grew over FPIs reallocating funds from Indian equities. The rupee settled higher by 1 paisa at 84.90 against the dollar.

Asian stocks were mostly higher this morning ahead of the Fed and BoJ rate decisions. The U.S. central bank is widely expected to cut interest rates by 25 basis points later today, but the focus will be on the release of Summary of Economic Projections, which will unveil the U.S. Fed dot plot.

The Bank of Japan is likely to keep its benchmark interest rate unchanged on Thursday as it awaits greater clarity on domestic wages and spending trends as well as policy changes by U.S. President-elect Donald Trump.

The U.S. dollar held steady against the yen and other major rivals in Asian trade and gold ticked higher, while oil prices traded mixed after a two-day decline as industry data showed a sizeable drawdown in U.S. commercial crude inventories.

U.S. stocks ended lower overnight as data showing stronger than expected retail sales growth in November added to the debate about the Fed's policy path for 2025.

The Dow fell 0.6 percent to close lower for the ninth straight session, logging its longest losing streak since 1978.

The tech-heavy Nasdaq Composite gave up 0.3 percent and the S&P 500 declined 0.4 percent.

European stocks fell broadly on Tuesday amid political upheavals in Germany and France.

The pan European STOXX 600 dropped 0.4 percent. The German DAX dipped 0.3 percent and the U.K.'s FTSE 100 lost 0.8 percent while France's CAC 40 finished 0.1 percent higher.