INDIA STOCKS-India stock benchmarks open flat; US-Russia talks eyed

Reuters

Aug 14

INDIA STOCKS-India stock benchmarks open flat; US-Russia talks eyed

Updates for markets open

Aug 14 (Reuters) - India's equity benchmarks were flat on Thursday as investors stayed cautious ahead of Russia-U.S. talks on the Ukraine war, which could have ramifications for U.S.-India trade negotiations.

The Nifty 50 .NSEI fell 0.12% to 24,648.35 points and the BSE Sensex .BSESN gained 0.11% to 80,629.19, as of 9:19 a.m. IST.

Ten of the 16 major sectors advanced, but the gains were marginal. The broader small-caps .NIFSMCP100 and mid-caps .NIFMDCP100 rose about 0.4% each.

MSCI's broader index for Asia-Pacific stocks outside Japan .MIAPJ0000PUS traded flat, after jumping in the previous session on prospects of a Federal Reserve rate cut next month. MKTS/GLOB

U.S. President Donald Trump and his Russian counterpart, Vladimir Putin, will discuss a possible deal to end the war in Ukraine when they meet on Friday in Alaska.

The talks are being closely watched by market participants in India after Washington imposed an additional 25% tariff on Indian goods over New Delhi's Russian oil imports. Positive U.S.-Russia talks could help ease U.S.-India trade tensions, according to multiple analysts.

(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Janane Venkatraman)

((VivekKumar.M@thomsonreuters.com;))

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