FX.co ★ Sensex, Nifty Seen Higher At Open

Shares in India appear ready to open slightly higher on Wednesday, driven by lackluster U.S. business activity data that has reignited investor expectations for American rate cuts this year.

Confidence among investors also grew following the optimistic stance of Tesla, the electric vehicle powerhouse, despite not meeting its sales targets. India's own business giants - HUL, LTIMindtree, Indian Hotels, and Axis Bank - are among the major firms set to unveil their fourth-quarter earnings results today.

India's benchmark indexes, Sensex and Nifty, achieved modest increases on Tuesday, resulting in growth for a third consecutive session. Simultaneously, the rupee gained 3 paise, ending the day at 83.33 against the dollar.

Asian markets were primarily experiencing higher trading this morning, while U.S. government bonds remained largely unchanged. The U.S. dollar experienced losses, and gold saw a slight decrease. Oil prices didn't see much fluctuation after a notable climb in the last session, following data showing a reduction in U.S. crude oil reserves.

U.S. equities continued their rise into a second session overnight. Investors processed a flow of strong company earnings reports, disappointing manufacturing data, and uneven information from the housing sector. U.S. Treasury yields fell following a survey revealing that U.S. business activity cooled to a four-month low in April.

The Dow increased by 0.7 percent, the S&P 500 by 1.2 percent, and the technology-driven Nasdaq Composite by 1.6 percent. European stocks also saw gains for a second successive session on Tuesday, recording their best day in six weeks, driven by conjecture regarding the timing of rate cuts by the European Central Bank and the Bank of England. The pan-European STOXX 600 increased by 1.1 percent, Germany's DAX by 1.6 percent and France's CAC 40 by 0.8 percent, while the UK's FTSE 100 recorded a modest rise of 0.3 percent, achieving a new record close.