Indian shares are set to open higher on Thursday, tracking other Asian peers, after in-line U.S. inflation data reinforced expectations of a Federal Reserve rate cut next week.

Analysts predict the Indian stock market will be influenced by inflation data, FII activity, and global trends. Key economic releases like CPI, IIP, and US core CPI are expected to shape sentiment.

Indian shares are set to open little changed on Wednesday, as investors await key inflation data from the U.S. later in the day and the domestic inflation print on Thursday for cues into the rate trajectories of the two countries.

Indian indices settled flat on Tuesday ahead of tomorrow's release of key inflation data. The latest domestic inflation figures, which are projected to have eased by experts, will affect interest rate cuts in the country.