Indian shares may open largely unchanged on Thursday after Chief Economic Adviser Arvind Subramanian has decided to quit the job for entirely personal reasons and an internal report produced by PNB officials revealed systematic lapses far beyond a few rogue employees.
Meanwhile, the minutes of the Monetary Policy Committee (MPC) meeting held between June 4 and 6 showed that there was consensus on the repo rate hike amid inflationary concerns.
Investors also keep an eye on oil prices movements ahead of a much anticipated OPEC meeting in Vienna on Friday to decide whether or not to increase production.
Oil prices fell slightly in Asian trade after Iran signaled support for a small rise in crude output.
Benchmark indexes Sensex and the Nifty rose notably on Wednesday to snap a two-day losing streak while the rupee closed up by 30 paise at 68.08 per dollar.
Asian markets are moving in a narrow range this morning as traders waited for new developments on global trade. The dollar held firm ahead of the Bank of England and OPEC meetings.
Overnight, U.S. stocks finished mostly higher as trade fears ebbed and media companies jumped after Disney raised its offer for most of Twenty-First Century Fox’s media assets.
The tech-heavy Nasdaq Composite climbed 0.7 percent to reach a fresh record closing high and the S&P 500 added 0.2 percent while the Dow slipped 0.2 percent.
European markets also ended Wednesday’s session mostly higher as bargain hunting at lower levels offered some support.
The pan-European Stoxx 600 rose 0.3 percent. The German DAX inched up 0.1 percent and the U.K.’s FTSE 100 gained 0.3 percent while France’s CAC 40 index eased 0.3 percent.
by RTTNews Staff Writer
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