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    India Stocks: Indian shares set to open lower on steady oil, rate fears

    Picture of India Pesticides logoIndia Pesticides
    28/12/2022 02:39
    BENGALURU, Dec 28 (Reuters) - Indian shares are set to
open lower on Wednesday, amid mixed cues from U.S. economic data
on growth trajectory and oil prices hovering around a three-week
high.
    India's NSE stock futures listed on the Singapore exchange
 SINc1  were down 0.48% at 18,061.50, as of 8:05 a.m. IST.
    Wall Street equities closed lower after data showed advance
goods trade deficit for November narrowed to $83.35 billion from
$98.8 billion in October, suggesting strength in the economy and
adding to rate hike concerns. 
    The trade deficit data was offset by a separate report that
showed a fall in home prices, indicating struggles for the
housing market. 
    U.S. yields rose as investors tried to assess the path of
interest rate hikes from the Federal Reserve following the mixed
data and China's decision to scale back some of its
COVID-related restrictions.
    Asian markets recovered from a mixed start, with the MSCI
Asia ex-Japan index  .MIAPJ0000PUS  rising 0.14%.  MKTS/GLOB 
    Oil prices rose to a three-week high on Tuesday on hopes of
demand recovery in China, adding to the worries. Brent crude

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