India's GIFT Nifty was down 0.05% at 19,868 as of 8:24 a.m. IST, above the benchmark Nifty 50's Thursday close of 19,802.

The Nifty 50 has risen 0.36% so far this week.

World equity markets are set to log their best month since late 2020, aided by a favourable inflation outlook in the U.S. and Europe.

The minutes of the European Central Bank's (ECB) latest policy meeting showed that inflation is cooling faster than expected.

The comments added to soft U.S. inflation data earlier this month, bolstering expectations that interest rates have peaked in both the U.S. and European Union. Wall Street equities were closed for the Thanksgiving holiday.

Asian markets were subdued on the day, dragged by a pullback in Chinese equities. China's markets had jumped in the previous session on hopes of further support to the property sector. [MKTS/GLOB]

Analysts said that easing U.S. Treasury yields after soft inflation data on Nov. 14 could bring back foreign inflows into India and support the blue-chips.

Foreign institutional investors snapped a four-session selling streak, adding Indian shares worth 2.56 billion rupees on Thursday, on a net basis, while domestic institutional investors bought shares worth 4.57 billion rupees.

"The zone of 19,850-19,900 is expected to remain a strong hurdle for Nifty," said Devarsh Vakil, deputy head of retail research at HDFC Securities.

The Nifty 50 has closed above 19,600 in every session since Nov. 14 but hasn't breached the 19,900 level, in intraday trade.


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(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen Soreng)