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Indian shares are set to open little changed on Friday on caution after the Reserve Bank of India's (RBI) policy meeting minutes flagged inflation risks and ahead of Federal Reserve Chair Jerome Powell's speech at a global central bank gathering.

India's GIFT Nifty on the NSE International Exchange was down 0.09% at 19,280 at 8:04 a.m. IST.

The Nifty 50 and Sensex have risen 0.40% and 0.47%, respectively, so far this week, on course to snap a four-week losing streak if gains hold.

The more domestically focussed mid-caps and small-caps have outperformed the benchmarks, hitting record highs and adding over 2% each for the week so far.

Asian markets declined on Friday. Wall Street equities closed lower overnight, as investors await Powell's speech at the Jackson Hole symposium, due later today, for cues into the central bank's future rate trajectory. [MKTS/GLOB]

India's central bank, in the minutes of its latest monetary policy meeting, reiterated its focus on closely monitoring the impact of a recent spike in food prices and the liquidity overhang in the banking system on domestic inflation.

Foreign institutional investors bought shares worth 15.25 billion rupees ($184.6 million) on a net basis on Thursday, while domestic institutional investors bought shares worth 57.97 billion rupees, according to provisional National Stock Exchange data.

STOCKS TO WATCH:

** Paytm: Shareholder Antfin is likely to sell a 3.6% stake in the fintech firm through a block deal on Friday, according to reports.

** Astra Microwave Products: Co secures orders worth 1.58 billion rupees.

** Vedanta: Co receives arbitration award to uphold company's contention in Rajasthan block case.

** Bharti Airtel: Co added 1.41 million mobile users in June, according to TRAI data.