Indian Shares Likely To Open Flat

(RTTNews) - Indian shares are likely to see a flat start on Thursday, tracking Asian markets, and the somewhat subdued close on Wall Street overnight.

Investors may also look to take some profits after successive days of gains. Activity is likely to be stock specific.

On the earnings front, Infosys, Hind Unilever, United Spirits, Union Bank of India and Havells are among the companies scheduled to announce their results today.

Tata Communications announced it posted a net profit of Rs 382 crore in the first quarter, down 30% from the year-ago quarter, although revenue from operations increased 11% to Rs 4,771 crore.

Reliance Industries will be in focus. There will be a special pre-open session for the stock with investors eyeing the listing of Jio Financial Services.

The benchmark indices Sensex and the Nifty, both posted fresh intraday and closing highs on Wednesday despite the market turning a bit volatile after a firm start.

Sustained foreign fund inflows and rising expectations the Federal Reserve is close to end its interest rate hiking cycle contributed to the positive mood in the market.

The benchmark BSE Sensex ended with a gain of 302.30 points or 0.45% at 67,097.44 after hitting a new high at 67,171.38. The National Stock Exchange's Nifty50, which climbed to 19,815.70, settled with a gain of 83.90 points or 0.42% at 19,833.15.

On Wall Street, the major averages closed in positive territory on Wednesday despite paring early gains. The Dow climbed 0.3%, the S&P 500 advanced 0.2%, while the Nasdaq inched up slightly.

The major European markets closed higher on Wednesday after data showed inflation in the Euro area and the U.K. cooled in June.