Sensex, Nifty Seen Opening On Flat Note After Recent Gains

(RTTNews) - Indian shares look set to open on a flat note Thursday following five consecutive sessions of gains. Overall losses, if any, may remain limited amid renewed hopes of peace between Russia and Ukraine.

Benchmark indexes Sensex and Nifty rose around 0.3 percent each on Wednesday to extend gains for a fifth day running, with underlying sentiment supported by the unexpected announcements relating to GST reforms and the recent progress in India-China ties. The rupee gained 6 paise to close at 87.07 against the dollar.

Foreign investors offloaded shares worth Rs 1,100 crore on a net basis Wednesday, while domestic institutional investors sustained their support with net purchases of Rs 1,806 crore, as per provisional exchange data.

Asian markets were mostly higher this morning, with Japan bucking the uptrend. Treasuries steadied after climbing across the curve in the prior session.

The dollar was stable while gold edged lower as investors await Jerome Powell's eighth and final keynote Jackson Hole speech as Federal Reserve Chair.

Oil held overnight gains after a report showed a drawdown in U.S. inventories.

Overnight, U.S. stocks ended mostly lower after minutes of the July Fed meeting suggested divisions over inflation and reports suggested the Trump administration is reviewing options to acquire equity stakes in Intel and other chipmakers in return for the federal subsidies.

According to the Fed minutes, attendees of the late July meeting found that risks surrounding U.S. inflation outweighed those to employment, underscoring a central bank divide over the effects of President Trump's tariffs.

The tech-heavy Nasdaq Composite fell 0.7 percent and the S&P 500 dipped 0.2 percent while the Dow finished marginally higher.

European stocks ended mixed on Wednesday as investors weighed the latest trade and geopolitical developments.

The pan European STOXX 600 gained 0.2 percent to extend gains for a third consecutive session.

The U.K.'s FTSE 100 rallied 1.1 percent to a fresh record close despite inflation accelerating to an 18-month high in July.

France's CAC 40 slid marginally and the German DAX shed 0.6 percent as data showed Eurozone inflation held steady at 2 percent in July.