Sensex, Nifty Seen Flat To Higher At Open

(RTTNews) - Indian shares look set to open a tad higher on Wednesday, tracking mixed global cues and a continued fall in oil prices, which slid about 1 percent to settle at a seven-month low on Tuesday on worries that demand from China could be weakening.

However, prices rebounded in Asian trade today as industry data showed another U.S. stockpile draw and Israel said it has killed a top Hezbollah commander after carrying out a strike on a southern suburb of the Lebanese capital Beirut.

FII outflows and key changes to index derivative framework announced by market regulator SEBI may result in volatility as the trading session progresses.

Benchmark indexes Sensex and Nifty gave up all early gains to end on a flat note Tuesday. The rupee edged up by 1 paise to close at 83.72 against the dollar.

Asian markets were mostly higher this morning following contrasting results from tech bellwether Microsoft and chipmaker AMD.

Japanese markets were moving lower ahead of BOJ interest-rate decision. The yen hovered near a 2-1/2-month high on speculation the central bank will announce plans to cut back on government bond buying.

Elsewhere, an official survey showed China's manufacturing activity shrank for a third straight month in July.

Gold ticked lower but traded above $2,400 per ounce ahead of the Federal Reserve's monetary policy decision later in the day and the Bank of England's rate decision due on Thursday.

U.S. stocks ended mixed overnight as a two-day policy meeting of the Federal Reserve got underway and tech stocks came under selling pressure on valuation concerns.

The tech-heavy Nasdaq Composite tumbled 1.3 percent to reach its lowest closing level in well over a month and the S&P 500 dipped half a percent while the Dow gained half a percent.

European stocks closed higher on Tuesday ahead of key economic data releases and central bank meetings around the world.

The pan European STOXX 600 inched up half a percent. The German DAX rose half a percent and France's CAC 40 added 0.4 percent while the U.K.'s FTSE 100 eased 0.2 percent.