Indian markets to open cautiously amid crude rise, foreign outflows
Business
Indian stock markets are expected to open on a cautious note this Wednesday, following a strong run by IT stocks that pushed the Nifty 50 up to 22,721.95.
Investors are treading carefully as rising crude oil prices and steady outflows of foreign funds add some uncertainty to the mood.
HCLTech earnings lift Nifty and Sensex
Globally, Japan's Nikkei bounced back a bit thanks to chip stocks, while oil prices climbed due to supply worries from Middle East tensions and Russian diesel exports.
Back home, Tuesday saw the Nifty and Sensex gain around 1.6% each, led by information technology stocks after HCLTech reported quarterly earnings that beat market expectations.
With everyone keeping an eye on US inflation data that could sway global policies, it's a wait-and-watch vibe for now.