FX.co ★ Sensex, Nifty Seen Flat To Higher At Open

Indian shares are poised to open slightly higher on Wednesday, influenced by mixed global signals and a continuing decline in oil prices. On Tuesday, oil prices dropped by approximately 1 percent to hit a seven-month low, fueled by concerns over weakening demand from China.

However, prices recovered in Asian trading today, following industry data that indicated another drawdown in U.S. stockpiles and after Israel reported the killing of a senior Hezbollah commander in a strike on a southern suburb of Beirut, Lebanon.

Foreign institutional investor (FII) outflows and key changes to the index derivative framework announced by the market regulator SEBI might introduce volatility as the trading session unfolds.

On Tuesday, benchmark indices Sensex and Nifty forfeited all early gains to end the day flat. The rupee appreciated by 1 paise, closing at 83.72 against the dollar.

Asian markets were mostly higher this morning, buoyed by mixed outcomes from tech giants like Microsoft and chipmaker AMD.

Japanese markets were trending lower, anticipating the Bank of Japan's interest-rate decision. The yen hovered near a 2-1/2-month high on speculation that the central bank would announce plans to scale back government bond purchases.

Elsewhere, an official survey revealed that China's manufacturing activity contracted for the third consecutive month in July.

Gold prices edged lower but remained above $2,400 per ounce ahead of the Federal Reserve's monetary policy decision later today and the Bank of England's rate decision scheduled for Thursday.

U.S. stocks ended mixed overnight as the Federal Reserve commenced its two-day policy meeting, and tech stocks faced selling pressure due to valuation concerns.

The tech-heavy Nasdaq Composite fell by 1.3 percent, marking its lowest closing level in over a month, while the S&P 500 dipped 0.5 percent. Conversely, the Dow rose by 0.5 percent.

European stocks closed higher on Tuesday, ahead of key economic data releases and upcoming central bank meetings globally.

The pan-European STOXX 600 gained 0.5 percent. Germany's DAX rose by the same margin, France's CAC 40 increased by 0.4 percent, while the U.K.'s FTSE 100 declined by 0.2 percent.