Indian shares are set to open lower on Thursday after snapping three straight sessions of gains, tracking Asian peers, while solid domestic growth data may limit losses.

NSE stock futures listed on the Singapore exchange were down 0.31% at 18,606, as of 8:02 a.m. IST.

Losses, however, may be capped as government data showed India's economic growth accelerated to 6.1% in the March quarter, expanding faster than the forecast of 5.0% by economists in a Reuters poll.

Nifty 50 and S&P BSE Sensex have registered gains for three straight months, adding over 2% each in May, helped by strong corporate earnings results and sustained foreign inflows into equities.

Also read: Nifty fair value is 20,900: Ambit Capital

While U.S. labour department data showed persistent labour market strength, comments from two Fed policymakers indicated that they were not in favour of raising rates in June.

Foreign institutional investors (FIIs) bought ₹3,406 crore worth of Indian equities on Wednesday, while domestic investors sold ₹2,529 crore of shares on a net basis, as per provisional NSE data.

Stock to watch

Coal India Ltd: Indian government is proposing to sell up to a 3% stake in the state-owned miner for a floor price of ₹225 a share.

Adani Total Gas Ltd, Adani Transmission Ltd: MSCI says Adani Total Gas and Adani Transmission will be removed from the MSCI Global Standard Indexes effective June 1.

United Drilling Tools Ltd: Company gets a work order worth ₹72 crore.