Indian shares set for muted opening on weak global cues
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Indian shares are set for a muted opening on Thursday, tracking weakness in Asian peers and overnight losses in the U.S. amid rising Treasury yields.
India's GIFT Nifty on the NSE International Exchange was unchanged at 19,625 at 8:01 a.m. IST.
Asian markets declined on Thursday, while Wall Street indexes fell after stronger-than-expected U.S. services sector data suggested interest rates will remain higher for longer. [MKTS/GLOB]
India's blue-chips, the Nifty 50 and the Sensex extended gains for the fourth straight session on Wednesday, recovering 2% from the near 2-month lows hit late August.
Meanwhile, foreign portfolio investor (FPI) inflows in Indian equities were at a four-month low of 122.62 billion rupees ($1.48 billion) in August, even as purchases rose in the second half of the month, data from the National Securities Depository Ltd (NSDL) showed.
Foreign institutional investors (FIIs) sold 32.46 billion rupees ($390.3 million) of shares on a net basis on Wednesday, while their domestic counterparts offloaded 2.47 billion rupees of stocks, exchange data showed.
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($1 = 83.1770 Indian rupees)
