BENGALURU (Reuters) - Indian shares are set to open higher on Thursday, after the U.S. Federal Reserve kept interest rates unchanged and indicated that rate cuts could be delayed, with a fall in oil prices and strong domestic auto sales numbers also possibly boosting sentiment.

India's GIFT Nifty was trading at 22,744 as of 08:00 a.m. IST, indicating that the Nifty 50 will open above its close of 22,604.85 on Tuesday.

The U.S. Fed on late Wednesday flagged delays to interest rate cut than earlier expected.

"No Fed cuts in 2024, followed by shallow cut cycle is turning into a reality," said said Madhavi Arora, lead economist, Emkay Global, adding that she doesn't see a collapse in emerging market risk assets.

Nifty auto index components will be eyed after industry giants posted higher car sales in the month of March.

Global oil prices fell to a near-seven week low overnight, which normally tends to soften inflation expectations in the world's third largest importer and consumer, India. [O/R]

Traders also eye quarterly results from Adani group companies like Adani Enterprises and Adani Ports, due later in the day.

Indian markets remained closed on Wednesday for a holiday after it closed lower on Tuesday.

Profit booking ensued towards the closing bell on Tuesday, after a sharp rally in the last couple of days and a holiday-led truncated week, said Vinod Nair, head of research, Geojit Financial Services.

Foreign institutional investors bought Indian shares for a second straight session on Tuesday, purchasing stocks worth 10.72 billion rupees ($128.5 million), while domestic institutional investors bought shares worth 14.29 billion rupees on a net basis.

STOCKS TO WATCH:

** Jindal Stainless: co said on Wednesday that it will invest nearly 54 billion rupees ($646.6 million) for acquisitions and capacity expansion.

** Adani Wilmar and Adani Power reported rise in their fourth-quarter profit on Wednesday.

** Godrej Industries, Godrej Properties , Godrej Consumer: Godrej family announces ownership realignment of shareholdings in Godrej companies

** Kotak Mahindra Bank: the private lender said on Tuesday its joint managing director KVS Manian has resigned, after two months in the role.

** Key earnings: Adani Ports, Adani Enterprises, Coal India, Coforge

($1 = 83.4480 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Rashmi Aich)