Indian shares were off to a muted start on Thursday, as a drop in energy and auto stocks offset a rise in information technology stocks after U.S. inflation data reinforced expectations of a Federal Reserve rate cut next week.
The NSE Nifty 50 added 0.03% to 24,649.25 points as of 9:19 a.m. IST, while the BSE Sensex was up 0.09% to 81,594.11.
Indian shares end flat ahead of US, domestic inflation data
Eight of the 13 major sectors logged gains.
IT companies, which earn a significant share of their revenue from the U.S., rose 0.8% after data showed U.S. consumer price index rose 0.3% on a monthly basis, matching the forecast by economists polled by Reuters.
The odds of a 25-basis-point Fed rate cut next week rose to about 99% after the data from 89% a day ago, according to CME FedWatch.
Oil and gas and auto indexes shed about 0.3% each.
Source: Brecorder
