Sensex, Nifty Seen Little Changed At Open

(RTTNews) - Indian shares look set to open on a flat note Thursday as investors grapple with an uneasy ceasefire in the Middle East and ponder the impact of U.S. tariffs on global trade.

Benchmark indexes Sensex and Nifty jumped around 0.8 percent each on Wednesday as the fragile Iran-Israel truce took hold. The rupee fell by 2 paise to close at 86.07 against the U.S. dollar.

Asian markets were subdued this morning, the dollar fell, gold held steady and short-term U.S. Treasuries rallied as concerns mounted over the U.S. Federal Reserve's independence.

During a press conference at the Hague, U.S. President Donald Trump said he has three or four people in mind to succeed Federal Reserve Chair Jerome Powell when his term expires next year.

"I know within three or four people. I mean he goes out pretty soon, fortunately, because I think he's terrible," said Trump of Fed Chair Jerome Powell whose terms ends in May next year.

Oil held onto overnight gains following its biggest two-day decline since 2022 as data showed U.S. crude oil and fuel inventories fell last week and Trump hinted at potentially easing Iran oil sanctions to aid the nation's reconstruction.

Asked if he was easing sanctions on Iran, Trump said on Wednesday that the U.S. has not given up its maximum pressure on the country but they need money to put the country back into shape.

Meanwhile, the Bloomberg reported that Russia is open to another output hike at the next OPEC+ meeting if the alliance deems such an increase to be necessary.

U.S. stocks ended narrowly mixed overnight due to profit taking after a two-day rally and amid disappointing profit forecasts from the likes of FedEx and General Mills.

Investors also pored over a second day of congressional testimony from Fed Chair Powell, who reiterated cautious stance on rushing to cut interest rates.

The tech-heavy Nasdaq-Composite edged up by 0.3 percent to reach a fresh four-month closing high, while the S&P 500 finished marginally lower and the narrower Dow eased 0.3 percent.

European shares ended Wednesday's session lower as fighting in Gaza raged and focus shifted to the looming U.S. tariff pause deadline.

The pan-European STOXX 600 gave up 0.7 percent. The German DAX declined 0.6 percent, France's CAC 40 shed 0.8 percent and the U.K.'s FTSE 100 dipped half a percent.