Sensex, Nifty Set To Open On Flat Note On Subdued Global Cues

Coal India will be in focus after the company said that it will reduce 5 per cent of its manpower each year for next 5-10 years.

The Indian equity benchmarks are set to open on a flat note as indicated by the Nifty futures traded on the Singapore Exchange amid subdued global cues. The Nifty futures on Singapore Exchange also known as SGX Nifty futures declined 14 points to 15,840. Asian shares were subdued on Wednesday with investors wary of any hint of hawkishness from the U.S. Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money. A looming data dump on Chinese retail sales and industrial production offered another reason for caution, with some modest slowdown in annual growth expected. Moves were modest, except in the oil market where prices hit the highest since April 2019 on a potent mix of post-pandemic demand and restricted production.