BENGALURU, Oct 27 (Reuters) - Indian shares are poised to open higher on Thursday, tracking strength in Asian markets in the backdrop of growing expectation the U.S. Federal Reserve may tone down its aggressive stance on rate hikes.
India's NSE stock futures, listed on the Singapore exchange , were 0.55% higher as of 0159 GMT, while the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), climbed 1.74%.
India is the world's third-largest importer and consumer of oil, and a rise in crude prices have a direct impact on inflation.
Foreign institutional investors sold a net 2.47 billion Indian rupees ($30.12 million) worth of equities on Tuesday, while domestic investors bought net 8.73 billion rupees worth of shares, as per provisional data available with the National Stock Exchange.
($1 = 82.0040 Indian rupees)Reporting by Rama Venkat in Bengaluru; Editing by Neha AroraOur Standards: The Thomson Reuters Trust Principles.