Sensex, Nifty Seen Tad Higher At Open

(RTTNews) - Indian shares are seen opening higher on Thursday after data showed the country's exports rose by 6.21 percent to $33.57 billion in October this year.

Muted cues from Asia and declines in U.S. stock futures may trigger some volatility as the session progresses.

Benchmark indexes Sensex and Nifty jumped more than 1 percent each on Wednesday while the rupee climbed 21 paise to close at 83.12 against the dollar.

Asian markets were subdued this morning as a crucial meeting between U.S. President Joe Biden and Chinese President Xi Jinping concluded, with both countries agreeing to work towards avoiding confrontation and instead focus on cooperation.

Gold was marginally lower on dollar strength while crude prices extended overnight losses on signs of higher supply from the United States and amid worries about lackluster energy demand from Asia.

U.S. stocks eked out modest gains overnight, with dovish Fed bets and an upbeat forecast from retailer Target helping underpin sentiment.

A measure of producer prices unexpectedly fell in October and retail sales dipped for the first time in seven months, offering more evidence of easing price pressures and slowing consumer spending ahead of the holiday season.

The tech-heavy Nasdaq Composite inched up marginally to reach a three-month closing high and the S&P 500 edged up 0.2 percent while the Dow rose half a percent.

European stocks closed higher for a third straight session on Wednesday after news of fresh stimulus in China and signs of moderating price pressures in the euro area.

The pan European STOXX 600 gained 0.4 percent despite the European Commission cutting Eurozone growth forecasts.

The German DAX rose 0.9 percent, France's CAC 40 edged up 0.3 percent and the U.K.'s FTSE 100 added 0.6 percent.