BENGALURU, Nov 4 (Reuters) - Indian shares erased early gains and were subdued on Friday, as losses in tech stocks offset gains in metals, while investors awaited U.S. jobs data for hints on future rate hikes.
The benchmark indexes have added 1.5% each this week through Thursday, after gaining more than 5% last month, on the back of strong earnings reports.
In broader Asia, equities rose on Friday, helped by Hong Kong and China stocks.
"There are two broad trends, one negative and the other positive, in the market now. The negative trend is the rising interest rates globally. But even in this unfavourable environment foreign investor flows into India are rising." said V K Vijayakumar, chief investment strategist at Geojit Financial Services.
Foreign institutional investors have been net buyers in the domestic market in the last six days. They purchased net of 6.78 billion Indian rupees ($82.01 million) worth equities on Thursday, as per provisional data available with the National Stock Exchange.
"In the near term, the influence of these negative and positive factors will keep the Nifty in a range with no breakouts or breakdowns," Vijayakumar added.
Meanwhile, U.S. payrolls data is due later in the day. If the data paints a robust picture, it will likely reinforce the Federal Reserve's hawkish outlook. Fed Chair Jerome Powell repeatedly mentioned the robust labour market in his speech after the rate hike earlier this week.
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