Indian shares decline; IT stocks weigh, Powell's speech eyed

a 15% rise in wholesale volumes for the third quarter on strong demand and improved chip supplies.

While Federal Reserve Chair Jerome Powell is expected to say on Tuesday more time is needed to show inflation is under control, markets will wait to see inflation levels at home and in the U.S., making them key to determine rate expectations. "Powell is unlikely to depart from the Fed's hawkish stance but if the CPI data confirms the declining trend in inflation, the market will get ahead and start pricing in possible rate cuts by end 2023," said V K Vijayakumar, chief investment strategist at Geojit Financial Services.

India's retail inflation held steady in December, staying within the Reserve Bank of India's comfort zone for a second month, a Reuters poll of economists found. The data is due on Thursday after market closes.

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Indian shares seen opening flat; Powell's speech, earnings eyedIndian shares were set for a muted opening on Tuesday, tracking global moves as investors weighed expectations of less aggressive Fed rate hikes against inflation and corporate earnings performance.
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