Sensex, Nifty Seen Lower At Open

Indian shares are seen opening lower on Wednesday as investors fret about an earlier-than-expected tightening of U.S. monetary policy.

Earnings would continue to be in focus, with Bajaj Finance reporting an 85 percent jump in quarterly profit, beating Street estimates.

ICICI Prudential Life Insurance, Tata Elxsi, L&T Technology Services and Just Dial are among the other prominent company that have unveiled their quarterly earnings results post market hours on Tuesday.

Benchmark indexes Sensex and the Nifty fell around 1 percent each on Tuesday while the rupee settled down 33 paise at 74.58 against the dollar, extending losses for the third day running.

Asian markets followed Wall Street lower, the dollar traded firm and oil extended a rally on supply concerns, while Bitcoin hovered above $42,300.

U.S. stocks tumbled overnight as Treasury yields surged to two-year highs and Goldman Sachs posted quarterly profit that missed that missed market expectations.

The Dow lost 1.5 percent, the tech-heavy Nasdaq Composite sank 2.6 percent and the S&P 500 declined 1.8 percent.

European stocks closed lower on Tuesday after U.S. Treasury yields fell along the curve amid expectations the Federal Reserve will start hiking interest rate as soon as March.

The pan European Stoxx 600 shed 1 percent. The German DAX lost 1 percent, France’s CAC 40 index dropped 0.9 percent and the U.K.’s FTSE 100 slipped 0.6 percent.