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Indian shares set to open lower as hot US inflation raises rate worries
Indian shares are set to open lower on Thursday, tracking Asian peers as a quicker-than-expected increase in US consumer price inflation raised expectations of another rate hike by the Federal Reserve this year. Higher US rates make emerging markets such as India less attractive for overseas investors, who have already sold Indian stocks for 14 straight sessions into Wednesday, taking year-to-date outflows to a record $32.7 billion. GIFT Nifty futures were at 22,606.5 at 7:52 a.m. IST, indicating a negative start for the benchmark Nifty 50, which closed at 22,622.7 on Wednesday. Hotter-than...
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