(RTTNews) - Indian shares may open on a tepid note Thursday after Nvidia reported strong second-quarter earnings, but an underwhelming revenue forecast threatened to cool an AI frenzy that has transformed the company into the world's second-most-valuable company.
Traders also await the release of the Federal Reserve's preferred inflation gauge on Friday for signals on U.S. interest-rate reductions.
Meanwhile, caution ahead of Reliance Industries' AGM and volatility on account of upcoming monthly expiry of derivative contracts may weigh on markets as the trading day progresses.
Benchmark indexes Sensex and Nifty ended Wednesday's choppy session marginally higher, with IT stocks outperforming. The rupee fell by 3 paise to close at 83.96 against the dollar.
Asian markets traded lower this morning, and the dollar held gains due to month-end buying and technical factors, while oil steadied after a two-day drop on concerns over Chinese demand.
Gold ticked higher after Federal Reserve Bank of Atlanta President Raphael Bostic said it "may be time" to cut interest rates but he's still looking for additional data before supporting a reduction in rates.
U.S. stocks ended lower overnight, with tech stocks coming under selling pressure before Nvidia's earnings release and Friday's PCE data.
The Dow dipped 0.4 percent, the S&P 500 shed 0.6 percent and the tech-heavy Nasdaq Composite lost 1.1 percent.
European stocks rose for a second straight session on Wednesday, with the pan-European STOXX 600 adding 0.3 percent to reach its highest level since mid-July.
The German DAX rose half a percent and France's CAC 40 edged up by 0.2 percent while the U.K.'s FTSE 100 finished marginally lower.
