Sensex, Nifty Set For Muted Open
(RTTNews) - Indian shares are seen opening little changed on Thursday as solid U.S. economic data along with an uptick in inflation supported recent comments by many Fed officials that there's no rush to cut rates.
The downside in domestic markets, if any, may remain capped as data showed foreign institutional investors (FII) turned net buyers and bought shares worth Rs 7.78 crore on Wednesday.
Benchmark indexes Sensex and Nifty eked out modest gains on Wednesday after a choppy session as a ceasefire deal between Israel and Hezbollah militants in Lebanon came into effect, denting oil's risk premium.
The rupee declined by 12 paise to close at 84.45, pressured by strong dollar demand related to the expiry of the Nov monthly futures contract and month-end payments by importers.
Asian markets were mixed this morning, the dollar edged up slightly and WTI crude prices traded flat below $70 a barrel. Gold held steady amid the potential for a trade war under the incoming Trump administration.
U.S. stocks closed lower overnight, with the S&P 500 snapping a seven-session winning streak and the Dow ending a three-day streak of record highs after the release of GDP, inflation and weekly jobless claims data.
European stocks ended mixed on Wednesday amid concerns over French finances and Trump's tariff policies.
U.S. stocks will be closed today for the Thanksgiving and open for only a half-day on Friday.
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