India Stocks seen opening flat after Fed signals more hikes; NSE IPO in focus

Brent crude LCOc1 eased slightly to about $106 a barrel after reports that Saudi Arabia had offered additional cargoes through Oman, easing some concerns over supply disruptions.

However, restrictions around the Strait of Hormuz and persistent geopolitical risks continue to cloud the oil market outlook. O/R

Investors will also watch the NSE NSEI.NS IPO, which opens on Thursday and becomes the fifth active offering in the primary market.

The exchange allocated shares worth 67.46 billion rupees ($703.07 million) to anchor investors on Wednesday, including Norway's and Abu Dhabi's sovereign wealth funds, at 1,785 rupees apiece, the upper end of the IPO price band.

"With the IPO pipeline so crowded, a substantial amount of liquidity is likely to be absorbed by the primary market," said Arun Kejriwal, founder of Kejriwal Research and Investment Services.

"Investor attention is overwhelmingly focused on new issues, leaving the secondary cash market relatively neglected."