Indian Shares Seen Higher After Nvidia's Upbeat Forecast

(RTTNews) - Indian shares look set to open on a buoyant note Thursday as AI darling Nvidia's strong results and commentary boosted investors' appetite for riskier assets.

On the flip side, the weekly expiry of the Sensex contracts and prevailing uncertainty over the path of U.S. monetary policy may lead to some profit taking at higher levels as the session progresses.

Benchmark indexes Sensex and Nifty ended up around 0.6 percent each on Wednesday, with IT stocks leading the surge following reports that the first phase of the India-U.S. bilateral trade agreement (BTA) was "near closure." The rupee ended on a flat note at 88.5875 against the U.S. dollar.

Foreign investors bought shares worth Rs 1581 crore on a net basis Wednesday while domestic institutional investors net bought shares to the extent of Rs. 1360 crore, according to provisional exchange data.

Asian markets traded higher this morning, with tech-heavy Nikkei and Kospi rising around 3 percent each.

The dollar index hovered near a six-month high ahead of a key jobs report delayed by the government shutdown.

Gold ticked lower while oil edged up slightly after falling sharply in the overnight U.S. trading session on signs of weaker demand in the U.S. and easing supply concerns.

Media reports suggest that the Trump administration has been quietly hammering out a new peace plan with Russia to end its war with Ukraine.

U.S. stocks fluctuated before ending higher overnight as technology stocks surged ahead of Nvidia's quarterly results.

The upside was capped as Target missed quarterly comparable sales estimates and the Federal Reserve's October meeting minutes revealed officials had mixed views about the outlook for interest rates and the inflationary impact of tariffs.

The Dow inched up 0.1 percent and the S&P 500 added 0.4 percent to snap a four-day slide while the Nasdaq Composite gained 0.6 percent.

European stocks ended little changed on Wednesday after having suffered notable losses in recent sessions amid concerns about AI bubble and uncertainty surrounding Fed interest rate moves.

The pan European Stoxx 600 closed flat with a negative bias. The German DAX edged down marginally, France's CAC 40 eased 0.2 percent and the U.K.'s FTSE 100 dropped half a percent.