BENGALURU, May 30 (Reuters) - Indian shares are set to

open lower on Thursday, tracking the weakness in their global

peers and as investors refrain from big bets ahead of the

outcome of national elections early next week.

The Gift Nifty was trading at 22,646 points as of

08:03 a.m. IST, indicating the benchmark Nifty 50 will

open lower than its previous close of 22,704.

The Nifty 50 and the S&P BSE Sensex dropped for a

fourth straight session on Wednesday as investors continued to

book profits.

The markets are likely to remain weak ahead of the election

results, due next Tuesday, and weak global cues are further

adding to the nervousness, said Siddhartha Khemka, Head - Retail

Research, Motilal Oswal Financial Services.

MSCI's broadest index of Asia-Pacific shares outside Japan

fell 0.5%, tracking the overnight drop on Wall

Street on increasing bets that global interest rates would stay

higher for longer.

Foreign investors were net sellers of Indian equities on

Wednesday, offloading shares worth 58.41 billion rupees ($701

million), while domestic institutional investors bought 52.34

billion rupees in stocks as per provisional NSE data.

STOCKS TO WATCH:

** Edelweiss Financial Services: The Indian

central bank barred two units from acquiring financial assets or

undertaking structured transactions.

** Tata Steel: The steelmaker reported a 64% fall

in consolidated net profit for the quarter ended March 31.

** Adani Enterprises: The company envisions an

annual capex build-up of about $9 billion for fiscal 2025.

($1 = 83.3690 Indian rupees)