Sensex, Nifty Seen Tad Higher At Open

Indian shares may open a tad higher on Wednesday after official data showed the country's merchandise exports rose nearly 46 percent in August, led by robust growth in petroleum products, gems and jewelry, chemicals, engineering goods, and electronic goods.

Telecom stocks could be in focus today amid expectations the Union Cabinet will announce some immediate relief for the financially ailing sector later today.

Benchmark indexes Sensex and the Nifty ended a range-bound session slightly higher on Tuesday, while the rupee settled flat at 73.68 against the greenback.

Asian markets fell broadly this morning as the release of weak Chinese data reinforced worries about slowing growth globally.

Weak CPI data weighed on the dollar index helping lift gold to a one-week high. Oil prices climbed after a larger than expected drawdown in crude oil stocks in the United States.

U.S. stocks ended lower overnight as economic uncertainties and the increasing likelihood of a corporate tax rate overshadowed signs of easing inflation.

The Dow shed 0.8 percent to reach its lowest closing level in almost two months, while the S&P 500 dropped 0.6 percent and the tech-heavy Nasdaq Composite eased half a percent.

European stocks ended mixed on Tuesday as relatively tame U.S. inflation data generated optimism that the Federal Reserve may delay plans to begin scaling back stimulus.

The pan European Stoxx 600 ended almost unchanged. The German DAX inched up 0.1 percent, while France's CAC 40 index eased 0.4 percent and the U.K.'s FTSE 100 dipped half a percent.

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