Indian shares set to rise in final session of 2022 on U.S. jobs data

India's NSE stock futures listed on the Singapore exchange were up 0.34% at 18,342.50, as of 8:10 a.m. IST. Wall Street equities closed higher overnight after weekly jobless claims rose indicating the Federal Reserve's rate hikes have been having their intended effect on the labour market.

Asian markets also advanced in the final trading session of 2022, with the MSCI Asia ex-Japan index rising 0.52%. [MKTS/GLOB] Oil prices are likely to aid domestic equities, which fell on China demand concerns due to a surge in COVID-19 cases in the country. [O/R] Lower oil prices aid oil-importing countries like India, where crude constitutes the bulk of the country's import bill.

Foreign institutional investors sold 5.73 billion rupees ($69.24 million) worth of equities on a net basis on Thursday, while domestic investors bought about 5.16 billion rupees ($62.35 million) worth of shares, as per provisional NSE data. STOCKS TO WATCH ** Reliance Industries: Co's unit will buy 51% stake in Lotus Chocolate for 740 mln rupees, and make an open offer to acquire up to 26%. ** Eicher Motors: Co to buy 10.35% stake in Spanish electric vehicles firm Stark Future for 50 mln euros.

** Cipla: Co's UK unit to acquire 10.35% stake in Germany-based R&D firm Ethris GmbH for 15 mln euros. ** HG Infra Engineering: Co secured letter of award from National Highways Authority of India for a project worth 7.44 bln rupees. ** Supreme Petrochem: Co increased effective expandable polystyrene production capacity at its Chennai plant.

($1 = 82.7580 Indian rupees) (Reporting by Bharath Rajeswaran in Bengaluru; Editing by Krishna Chandra Eluri)