Indian stock benchmarks seen opening muted after three days of losses

India’s equity benchmarks are expected to open flat on Thursday following three consecutive sessions of losses, while foreign investors turning buyers and a rebound in the rupee will likely aid sentiment.

The Gift Nifty futures were trading at 25,871 points, as of 7:35 a.m. IST, indicating that the benchmark Nifty 50 will open near Wednesday’s close of 25,818.55.

The benchmark indexes fell about 0.9% in the last three sessions amid concerns over foreign flows and the rupee’s slide to record lows due to a delay in progress over the India-U.S. trade deal.

However, foreign investors snapped an eight-session selling streak on Wednesday, net buying shares worth 11.72 billion rupees ($129.53 million), according to provisional data.

The rupee also posted its best one-day gain in two months on Wednesday after heavy-handed intervention by the Reserve Bank of India.

Investors globally will remain cautious on Thursday ahead of the release of U.S. inflation data, which could be key to assessing the Federal Reserve’s future interest rate action.

Asian markets fell, pressured by tech stocks, as investors weighed the outlook for artificial intelligence-related shares.