BENGALURU - Indian stocks were mostly unchanged on Thursday as investors awaited more clarity on U.S. President Donald Trump's statement ahead of his visit to India that the two countries were working on a major trade deal.
The domestic markets will remain closed for Shivratri holiday on Friday and Trump's visit will begin on Monday.
Trump has said that he was not sure if the trade deal with India would be completed before the U.S. presidential election in November.
The broader NSE Nifty 50 index was mostly unchanged at 12,120.15 by 0407 GMT, while the benchmark S&P BSE Sensex was down 0.08% to 41,284.32. Both the indexes rose over 1% on Wednesday. Meanwhile, negotiators on both sides have been trying for weeks to put together a limited accord giving the U.S. greater access to India's dairy and poultry markets and lowering tariffs on other products.
"Markets are mostly going to be flat and are looking forward for the meeting between the United States and India and will react accordingly," said Vinod Nair, head of research, Geojit Financial Services Ltd.
"The meeting is going to be the main trigger for the market as there will be signs on what kind of deal can be expected and if it will be positive for India or not."
Fitch Ratings said on Wednesday it expects India's real GDP growth to slow to 4.6% in financial year ending March 31 (FY20) from 6.8% in FY19.
IndusInd Bank was the top gainer in the Nifty 50 index, rising 3.40%, while Cipla Ltd fell 1.11% and was the top loser.
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Arun Koyyur) ((Sethuraman.NR@thomsonreuters.com; (+91 8061822737); Reuters Messaging: email@example.com))