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Indian shares are set to open marginally higher on Thursday, after snapping a six-session winning streak in the previous session, while their Asian peers gained slightly, led by a rally in Japanese stocks.
GIFT Nifty was trading at 22,150 as of 8:11 a.m. IST, indicating that the NSE Nifty 50 will open above its Wednesday's close of 22,055.05.
The blue-chip indexes, Nifty 50 and BSE Sensex, lost about 0.6 per cent each on Wednesday, as domestic investors booked profits after six sessions of gains in which the benchmarks gained 2.7 per cent.
Domestic institutional investors (DII) snapped a seven-session buying streak on Wednesday, offloading shares worth ₹412 crore, on a net basis.
Foreign investors, on the other hand, turned net buyers after two sessions, adding ₹285 crore of shares.
IT stocks, which led the losses on Wednesday, will be in focus again after the minutes of the Federal Reserve's latest policy meeting indicated most policymakers were concerned about the risk of cutting rates too soon.
The odds of a rate cut in June were little changed after the minutes. Indian IT firms earn a significant share of their revenue from the United States.
Wall Street equities were mixed overnight. Asian markets opened marginally higher, with the MSCI Asia ex-Japan index adding 0.1 per cent. Japan's Nikkei 225 hit a record high.
Japanese technology stocks jumped after the US chipmaker Nvidia reported strong earnings and gave a robust growth and demand outlook.
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