The S&P BSE Sensex and NSE Nifty 50 Indexes are set to open on a flat note ahead of the Economic Survey due later in the day as indicated by the Nifty futures trading on Singapore Exchange. Singapore Nifty futures also known as the SGX Nifty was trading flat at 11,948.

Meanwhile, shares in other Asian markets advanced on Thursday, tracking sharp gains on Wall Street as recent data from multiple sectors pointed to slowing economic growth in the United States, bolstering the prospect of rate cuts by the Federal Reserve.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent as did Japan's benchmark Nikkei, and Australia was up 0.6 per cent.

On Wall Street, which closed at midday Wednesday for the eve of the US Independence Day, all three major stock indexes finished at a record closing highs as expectations grew that the Fed would take a more dovish turn.

Stocks In Focus

Vedanta will be in focus today after it informed exchanges that it was awarded 10 exploration blocks in sedimentary basins throughout India pursuant to the Indian Open Acreage Licensing Policy.

Bharti Airtel said that National Company Law Tribunal, Delhi approved transfer of the optical fibre cable business undertaking of Airtel to Telesonic Networks.

Steel Strips Wheel said that June wheel rim sales fell 10 per cent to 11.28 lakh units from 12.66 lakh units during the same period last year.

Indian Oil Corporation is close to chartering a Panama-flagged ship rather than a domestic vessel in its first tender to hire an oil tanker with scrubbers that remove sulphur emissions, sources with knowledge of the matter said.

(With inputs from Reuters)