Plus   Neg

Sensex, Nifty Seen Opening Little Changed

Indian shares may open largely unchanged on Thursday as investors await concrete progress on U.S.-China trade talks.

Underlying sentiment may remain supported somewhat after the government approved setting up of a Rs. 25,000 crore alternative investment fund (AIF) to revive around 1,600 stalled housing projects across top cities in the country.

On the earnings front, India's largest private steel maker Tata Steel reported 6 percent rise in consolidated profit for the September quarter on the back of one-time gains and a favorable tax regime. DLF, HPCL and Indraprastha Gas will unveil their quarterly earnings later today.

Benchmark indexes Sensex and the Nifty rose around half a percent on Wednesday, while the rupee fell by 28 paise to close at 70.97 against the U.S. dollar, snapping its three-session winning streak.

Asian markets traded flat this morning but clung near multi-month highs. Gold remains little changed and the dollar drifted lower against the yen, while oil held on to overnight losses.

West Texas Intermediate Crude oil futures for December delivery fell about 1.5 percent on Wednesday to snap a three-day winning streak after data from Energy Information Administration showed a much larger than expected increase in crude inventories in the week ended November 1.

U.S. stocks ended narrowly mixed overnight after reports emerged that the
United States and China might delay a meeting to formalize the phase one deal.

European markets rose slightly on Wednesday after German data showed factory orders rising in September following two consecutive monthly declines.

The pan European Stoxx 600 gained 0.2 percent The German DAX inched up 0.2 percent, France's CAC 40 index added 0.3 percent and the U.K.'s FTSE 100 edged up 0.1 percent.

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