Indian shares set for muted start on conflicting Fed rate-hike views

BENGALURU (Reuters) - Indian shares are set for a muted start on Thursday, tracking a slide in global equities as investors assessed contrasting views from U.S. Federal Reserve officials on the rate hike trajectory. India's NSE stock futures listed on the Singapore exchange were down 0.03% at 17,884.50 as of 7:43 a.m. IST.

Wall Street equities closed lower following divergent views on rate hikes from key Fed officials.

Governor Christopher Waller said that the battle to reach Fed's 2% inflation target "might be a long fight," while Governor Lisa Cook was optimistic of a "soft landing." In a speech on Tuesday, Fed Chair Jerome Powell underlined that "disinflation" was underway.

Asian markets fell, with the MSCI's broadest index of Asia-Pacific shares outside Japan sliding 0.06%.

Indian shares settled higher on Wednesday after the Reserve Bank of India delivered an expected 25 basis points rate hike.

Foreign institutional investors sold net of 7.37 bln rupees ($89.19 million) in shares on Wednesday, while domestic institutional investors bought 9.41 bln rupees worth of equities.

STOCKS TO WATCH

** Adani Power: Co reports slide in consolidated net profit in Q3, dragged by rise in fuel costs. ** Larsen & Toubro: Ministry of Defence signs contract with co to procure 41 indigenous modular bridges worth 25.85 bln rupees for Indian Army.

** Gujarat Pipavav Port: Co reports rise in consolidated net profit in third quarter.

** Cummins India: Co reports a rise in consolidated net profit in the third quarter, approves an interim dividend of 12 rupees per share for FY2022-23.

($1 = 82.6370 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil)