BENGALURU (Reuters) - Indian shares are set to open little changed on Thursday, while focus will be on the quarterly earnings of LTIMindtree and Asian Paints.
The GIFT Nifty was at 24,650 points as of 8:16 a.m. IST, suggesting that the NSE Nifty 50 will open near its close of 24,613 on Tuesday. Indian financial markets were closed on Wednesday for a holiday.
The Nifty and S&P BSE Sensex have logged record closing highs for the last three consecutive sessions. The Nifty has notched record highs in eight of the twelve sessions so far in July.
"With the nearing of a major event, the national budget on July 23, we expect anxiety to increase in the market," said Siddhartha Khemka, head of reail research at Motilal Oswal Financial Services.
"Beyond budget, quarterly results of prominent companies will drive the stock-specific action," Khemka added.
In the domestic market, LTIMindtree will be in focus after the information technology firm reported a bigger-than-expected rise in first-quarter profit on Wednesday, snapping five straight quarters of slowing growth.
Paintmaker Asian Paints will also be in focus after it posted earnings below estimates in the quarter ended June 30, hurt by weak demand and price cuts.
Broader Asian equities fell on Thursday, led by chip stocks as investors fret over the prospect of escalating trade tensions between the U.S. and China. [MKTS/GLOB]
STOCKS TO WATCH:
* UltraTech Cement: Company to buy 26% equity shares in Amplus Omega Solar, in a deal worth 243 million rupees.
* L&T Finance: Company reported a near 30% y/y rise in first-quarter consolidated net profit.
* Hathway Cable: Company posted an almost 18% fall in first-quarter consolidated net profit.
* Adani Wilmar: Gautam Adani and Wilmar International are in early talks with banks to sell a minority stake in Adani Wilmar, Bloomberg reports, citing people familiar with the matter.
($1 = 83.5870 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Varun H K)
