BENGALURU: Indian shares are set to open little changed on Thursday, while focus will be on the quarterly earnings of LTIMindtree and Asian Paints.
The GIFT Nifty was at 24,650 points as of 8:16 a.m. IST, suggesting that the NSE Nifty 50 will open near its close of 24,613 on Tuesday.
Indian financial markets were closed on Wednesday for a holiday.
The Nifty and S&P BSE Sensex have logged record closing highs for the last three consecutive sessions. The Nifty has notched record highs in eight of the twelve sessions so far in July.
“With the nearing of a major event, the national budget on July 23, we expect anxiety to increase in the market,” said Siddhartha Khemka, head of reail research at Motilal Oswal Financial Services.
“Beyond budget, quarterly results of prominent companies will drive the stock-specific action,” Khemka added.
In the domestic market, LTIMindtree will be in focus after the information technology firm reported a bigger-than-expected rise in first-quarter profit on Wednesday, snapping five straight quarters of slowing growth.
IT leads Indian blue-chips to record closing highs
Paintmaker Asian Paints will also be in focus after it posted earnings below estimates in the quarter ended June 30, hurt by weak demand and price cuts.
Broader Asian equities fell on Thursday, led by chip stocks as investors fret over the prospect of escalating trade tensions between the US and China.
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