Sensex, Nifty Seen Higher At Open

(RTTNews) - Indian shares may open a tad higher on Wednesday, mirroring firm cues from global markets despite signs of waning U.S. consumer confidence.

A weaker dollar and foreign inflows may help limit losses, if any, as investors look forward to cues from the upcoming earnings season.

Benchmark indexes Sensex and Nifty ended a choppy session marginally higher on Tuesday while the rupee slipped 12 paise to close at 85.75 against the U.S. dollar, ending a nine-day winning streak as importers stepped in to hedge liabilities at favorable levels.

Foreign institutional investors continued their buying streak for the third straight session and bought shares worth Rs 5,371.57 crore on a net basis Tuesday, while domestic institutional investors were net sellers of shares to the extent of Rs 2,768.87 crore, as per provisional data.

Asian markets were seeing modest gains this morning after the United States announced agreements with Ukraine and Russia to ensure safe passage in the Black Sea and ban military attacks by the two countries on energy facilities.

But many details were unresolved as the Kremlin made the deal conditional on lifting some Western sanctions.

The 10-year U.S. Treasury yield edged up in Asian trade after falling in the previous session. The dollar snapped a four-day rally, helping copper prices in the U.S. surge to a historic high.

Gold ticked higher as U.S. reciprocal tariffs loomed. Oil edged up as industry data pointed to a drawdown in U.S. inventories.

U.S. stocks ended higher for a third straight session overnight as investors reacted to data showing a dip in consumer confidence for the fourth consecutive month and President Trump's softer tariff plan.

Ratings agency Moody's has warned on the U.S. fiscal outlook, saying Trump's policies could make it more difficult to offset rising deficit and debt.

The tech-heavy Nasdaq Composite gained half a percent, the S&P 500 edged up by 0.2 percent and the Dow finished marginally higher.

European stocks closed higher on Tuesday as a survey showed German business morale rose in March.

The pan European STOXX 600 climbed 0.7 percent. The German DAX and France's CAC 40 both rallied around 1.1 percent while the U.K.'s FTSE 100 added 0.3 percent.