(fxcue news) - Indian shares look set to open on a weak note Thursday as investors grapple with U.S. policy uncertainty and the ongoing FII selloff. Overall gains, if any, are likely to remain limited ahead of a market holiday on Friday for Guru Nanak Jayanti. Grasim, Hero MotoCorp and HAL are among the prominent companies that will unveil their quarterly earnings results later today. Benchmark indexes Sensex and Nifty plunged 1.3 percent and 1.4 percent, respectively on Wednesday due to persistent foreign fund outflows. The rupee settled 1 paise higher at 84.38 against the dollar after suspected intervention by the Reserve Bank of India at lower levels. Asian markets were seeing muted gains this morning and gold hovered near a two-month low on a stronger dollar while oil prices edged up slightly after the release of mixed inventory data. U.S. stocks fluctuated before ending mixed overnight as longer-dated Treasury yields rose amid expectations that the Fed may not reduce rates as much as previously thought. Data showed the consumer price index rose 0.2 percent for the fourth straight month in October, matching expectations. The annual rate of consumer price growth accelerated to 2.6 percent from 2.4 percent in September, while the core consumer price inflation rate stood at a three-month high of 3.3 percent, unchanged from September. The tech-heavy Nasdaq Composite shed 0.3 percent while the S&P 500 and the Dow crept up marginally. European stocks closed lower Wednesday on concerns about regional growth amid fears of inflation and tariffs in the Trump 2.0 era. The pan European STOXX 600 slipped 0.1 percent. The German DAX dipped 0.2 percent and France's CAC 40 slipped 0.1 percent while the U.K.'s FTSE 100 finished marginally higher.