Sensex, Nifty Seen Flat To Higher At Open

(RTTNews) - Indian shares are likely to open on a flat note Thursday, tracking mixed cues from global markets and amid Nifty's weekly expiry.

Benchmark indexes Sensex and Nifty ended down around 0.3 percent each on Wednesday, tracking weak cues from global markets on concerns about slowing U.S. and Chinese growth. The rupee fell by 4 paise to close at 84.02 against the dollar.

Foreign institutional investors (FII) bought shares worth a net Rs 975.46 crore on Wednesday while domestic institutional investors (DII) bought shares to the extent of Rs 97.35 crore, according to provisional data available on the NSE.

Asian markets were flat to slightly higher this morning as chipmakers rebounded from the previous day's losses.

Treasuries were steady after the 10-year yield dropped eight basis points in the previous session.

The dollar wobbled while gold edged up marginally as markets bolstered bets on steep rate cuts by the Federal Reserve following the U.S. job openings data.

Oil steadied near the lowest close since June 2023 after industry data pointed to a big draw in U.S. crude stockpiles.

U.S. stocks ended narrowly mixed overnight as technology stocks continued to fall amid anxiety about the economic outlook.

In economic releases, the latest job openings and labor turnover summary report signaled cooling hiring in July. The Fed's Beige Book showed flat or declining economic activity across most regions in recent weeks.

The Dow inched up marginally, while the S&P 500 slid 0.2 percent and the tech-heavy Nasdaq Composite eased 0.3 percent.

European stocks hit a two-week low on Wednesday, with technology stocks leading declines.

The pan European STOXX 600 dropped 1 percent. The German DAX dipped 0.8 percent, France's CAC 40 lost 1 percent and the U.K.'s FTSE 100 gave up 0.4 percent.