(fxcue news) - Indian shares may open on a flat note Wednesday as investors react to disappointing trade data and await the outcome of a Federal Reserve meeting later in the due for directional cues. India's trade deficit widened to a 10-month high of nearly $30 billion in August as gold-led merchandise imports surged to over $64 billion and merchandise exports declined, according to data released by Commerce & Industry Ministry. Energy stocks could be in focus today after the government scrapped the windfall tax on domestically produced crude oil with effect from September 18. Benchmark indexes Sensex and Nifty ended Tuesday's session marginally higher after a choppy session. The rupee gained 10 paise to settle at 83.76 against the greenback. Asian markets were mixed this morning as investors await the Fed announcement and Chair Jerome Powell's remarks for any clues on more easing this year. Following better-than-expected retail sales data released overnight, most economists eye only a smaller rate cut. The dollar stabilized and gold was marginally higher while oil dipped slightly after a two-day gain. U.S. stocks hi intraday record highs before ending narrowly mixed overnight as investors braced for the Federal Reserve's first interest-rate cut since 2020. Data showed U.S. retail sales unexpectedly rose in August and production at factories bounced back, tempering growth concerns but theoretically weakening the case for a more aggressive cut. The S&P 500 ended flat with a positive bias and the tech-heavy Nasdaq Composite edged up 0.2 percent while the Dow finished marginally lower. European stocks hit a two-week high on Tuesday, with financials leading the surge. The pan European STOXX 600 edged up 0.4 percent. The German DAX and France's CAC 40 both rose by half a percent while the U.K.'s FTSE 100 gained 0.4 percent.