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Indian Shares Seen Opening Soft

Indian shares are seen opening slightly lower on Wednesday, tracking mixed Asian cues as investors keep an eye on an impending Federal Reserve's monetary policy announcement later in the global day.

On the earnings front, Alfa Laval, Indiabulls Real Estate, Nestle India, Sterlite Industries, Wipro and Yes Bank are among the companies that will unveil their quarterly earnings today.

Indian shares snapped two days of losses on Tuesday, as investors cheered TCS' Q4 earnings and management commentary as well as preliminary reports hinting at a normal monsoon this year. The benchmark 30-share Sensex ended the day up 111 points or 0.65 percent at 17,207, while the broader Nifty index rose by 22 points or 0.42 percent to 5,223.

On Wall Street, stocks turned in a lackluster performance overnight, as a mixed batch of economic data on consumer confidence and new home sales coupled with caution ahead of the Federal Reserve's monetary policy announcement as well as Chairmen Ben Bernanke's accompanying press conference on Wednesday prompted investors to remain on the sidelines.

The tech-heavy Nasdaq slid 0.3 percent, while the Dow rose 0.6 percent and the S&P 500 gained 0.4 percent. The Fed is widely expected to leave interest rates at near-zero levels, but traders will pay close attention to any comments regarding the outlook for further quantitative easing.

by RTT Staff Writer

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