Indices trade flat, Nifty near 10,650 ahead of F&O expiry

The markets are trading flat on Thursday amid weakness in their Asian counterparts ahead of the expiry of June derivatives contracts later in the day.

That apart, investors will also keep a watch on movement in rupee and global crude oil prices for further cues in the market.

RUPEE

The rupee fell to an all-time low against the US dollar in early trade on Thursday, tracking Asian peers with weakening macro-economic fundamentals on the domestic front also weighing on the currency.

The partially convertible rupee was trading at a life low of 69.03/04 against the dollar. The Indian currency closed at 68.65/66 per dollar on Wednesday.

GLOBAL MARKETS

Asian stocks slumped to nine-month lows on Thursday as investors worried that the the Trump administration's approach to trade is harming global economic growth - even as the White House approach to Chinese investment in US technology companies appeared to be softening.

MSCI's broadest index of Asia-Pacific shares outside Japan fell as much as 0.52 per cent to hit a new near nine-month low, before it recovered some ground, while Japan's Nikkei average was flat after erasing earlier losses.

OIL PRICES

In commodities, US oil prices dipped away from three-and-a-half year highs on Thursday amid high output from Russia, the United States and Saudi Arabia, although unplanned supply disruptions elsewhere and record demand stemmed a bigger decline.

US West Texas Intermediate (WTI) crude futures were at $72.54 a barrel, down 22 cents, or 0.3 per cent from their last settlement. WTI hit its highest since November 2014 at $73.06 per barrel in the previous session. Brent crude futures were at $77.54 per barrel, down 8 cents from their last close.

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