MUMBAI: Indian shares were little changed on Wednesday, as investors awaited key U.S and domestic inflation data for cues into the rate trajectories of the two countries.
The NSE Nifty 50 added 0.13% to 24,641.8, while the BSE Sensex rose 0.02% to 81,526.14.
The benchmark Nifty 50 has traded in a narrow range of less than 170 points in the three sessions this week after logging gains in the previous three weeks ended Dec. 6.
“The benchmarks have been muted in the last few sessions, reflecting caution ahead of US inflation reading,” said Prashant Tapse, senior vice president of research at Mehta Equities.
The US inflation data will shape the Federal Reserve’s interest rate outlook, which could impact foreign inflows into emerging markets such as India.
Meanwhile, economists expect domestic inflation to have eased in November, a Reuters poll showed. The data is due on Thursday. Moderation in inflation may allow the Reserve Bank of India to cut interest rates in its next policy meeting in February, amid rising growth concerns, two analysts said. The RBI kept rates unchanged in its policy meeting last week.
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