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Indian shares seen opening higher after selloff; higher oil, Fed caution to cap gains
Indian shares are set to open higher on Wednesday, with the benchmarks poised for a technical rebound after the Nifty 50 closed at a five-month low in the previous session. GIFT Nifty futures were trading around 23,218.50 points as of 7:54 a.m. IST, indicating a positive start for the Nifty 50 index, which closed at 23,118.60 on Tuesday. Both the Nifty 50 and Sensex are in oversold territory, so a technical bounce cannot be ruled out from current levels. However, the overall trend remains bearish, said Vatsal Bhuva, a technical analyst at LKP Securities. Analysts expect markets to remain s...
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