BENGALURU, Feb 15 (Reuters) - Indian shares are set for
a muted start on Wednesday on fears of a prolonged high-interest
rate regime in the United States after data showed consumer
inflation in January remained sticky in the world's largest
economy.
India's NSE stock futures listed on the Singapore exchange were down 0.26% at 17,881.50 as of 7:52 a.m. IST.
Wall Street equities were mixed on Tuesday, after data
showed that retail inflation in the U.S. rose 6.4% year-on-year
in January, above the expectations of 6.2%. Consumer prices rose
0.5% month-on-month.
The higher-than-expected inflation data heightened fears of
further rate hikes by the U.S. Federal Reserve in its efforts to
tame inflation.
Asian markets declined, with the MSCI's broadest index of
Asia-Pacific shares outside Japan losing 1.35%. Meanwhile, the ongoing uncertainty in Adani Group stocks
could continue to overshadow domestic equities.
The conglomerate, on Tuesday, said the group companies did
not face any material refinancing risk or near-term liquidity
issues in an attempt to calm frayed investor nerves after the
critical report by U.S. short-seller Hindenburg on its business
practices on Jan. 24.
Foreign institutional investors bought a net 13.05 billion
rupees ($157.5 million) worth of equities on Tuesday. FIIs have
remained net buyers over the last three sessions. They have sold
442.51 billion rupees of shares thus far this year.
STOCKS TO WATCH
** Apollo Hospitals : Co posts fall in consolidated
net profit in third quarter as digital health business weighs.
** ONGC : Co reports rise in quarterly profit on
higher crude, gas prices.
** Biocon : Co reports consolidated net loss in
third quarter.
** Prestige Estate Projects : Co reports a surge in
third-quarter profit.
** Vodafone Idea : Co reports wider net loss in
third quarter.
($1 = 82.8570 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Dhanya Ann Thoppil)
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