Indian Shares Likely To Open On Muted Note After Recent Rally

(RTTNews) - Indian shares look set to open on a muted note on Thursday as investors react to mixed Asian cues, reports of executive turmoil at Nvidia and the results of MSCI's November review.

MSCI added Life Insurance Corporation of India, Coforge, Adani Green Energy and Meesho to its Global Standard Index and removed PI Industries.

After the review, India's weightage in the standard Emerging Market Index will rise to 13.1 percent from 12.9 percent currently.

Meanwhile, ahead of October CPI inflation data scheduled for release later today, Moody's raised India's GDP growth forecast for fiscal 2026-27 to 7 percent from 6.5 percent, and flagged inflation near the top of the RBI's 2-6 percent target range.

Benchmark indexes Sensex and Nifty hit an eight-month high before ending up 1 percent and 0.8 percent, respectively on Wednesday, with investor sentiment boosted by continued foreign fund inflows, a moderation of the AI trade, and a retreat in global crude oil prices to two-month lows on hopes for a de-escalation in the U.S.-Israeli war on Iran.

The rupee added 7 paise to close at 93.70 against the U.S. dollar despite a surge in U.S. Treasury yields.

Foreign institutional investors (FIIs) net bought shares worth 12,563.33 crore on Wednesday, marking the third-highest daily inflow of 2026 and taking their net purchases in November to Rs 65,735.32 crore, according to provisional exchange data. Domestic institutional investors (DIIs), meanwhile, net sold shares worth 8,434.53 crore.

The U.S. dollar hovered near a one-month high against major peers in early Asian trading, while gold was little changed at $3,986 an ounce as persistent inflation and hawkish remarks from Federal Reserve officials fueled expectations for a 50-bps rate hike next month.

Brent crude futures fell toward $92 a barrel after OPEC+ crude oil production jumped in October. Saudi Arabia said its crude oil production climbed 26 percent in October to one of the highest monthly levels in years, helping ease global supply constraints.

A senior Iranian official rejected one of Washinton's key conditions for peace talks, stating that the country would not surrender "a single atom" of its enriched material.

Mohammed Bagher Ghalibaf, Iran's parliament speaker and top negotiator, has told AI Jazeera that Tehran is waiting for an official U.S. response to its seven conditions for ending war and that the Strait of Hormuz will "never return" to its status prior to the U.S.-Israel war on Iran.

Asian markets were mixed this morning, while U.S. stock futures fell after media reports suggested that Nvidia's board is preparing to oust its co-founder and CEO, Jensen Huang, who is facing new accusations of infidelity.

Regional losses, if any, remained capped after a rally in U.S. stocks overnight. Amid lingering concerns surrounding data center spending and AI demand, investors have shifted their attention to earnings from Applied Materials and Cisco, due after the U.S. closing bell later today. Nvidia, Walt Disney and Home Depot report their earnings results on November 17.

U.S. stocks closed higher overnight as Nvidia shares rebounded after two straight sessions of sharp declines. Sentiment improved across AI infrastructure stocks as well, energized by CoreWeave's robust earnings report and Anthropic's potential $2 trillion IPO.

The tech-heavy Nasdaq Composite climbed 1.6 percent, the S&P 500 jumped 1.3 percent and the narrower Dow rose half a percent.

European stocks set a fresh record on Wednesday, with investor sentiment underpinned by steadier oil prices, solid corporate earnings and renewed enthusiasm for the artificial intelligence trade.

The pan-European STOXX 600 advanced 0.7 percent. The German DAX rallied 1.2 percent, France's CAC 40 surged 0.7 percent and the U.K.'s FTSE 100 added 0.8 percent.