Australia shares end flat; GQG Partners sinks on US indictment of India's Adani

Australian shares were little changed on Thursday, as gains in banks and gold stocks were offset by losses in investment firm GQG Partners, which dropped after Indian conglomerate Adani Group's chair was indicted in the United States.

The S&P/ASX 200 benchmark index XJO closed at 8,323 points, compared to its previous close of 8,326.30.

Australia-listed shares of GQG Partners GQG, which holds a combined stake of nearly 20% in four Adani firms, fell more than 19% after Gautam Adani was charged with bribery and fraud in New York. It was among the biggest losers by percentage on the benchmark index.

Globally, investors were cautious with the looming threat of escalating tensions between Ukraine and Russia, and after artificial intelligence chipmaker Nvidia's NVDA fourth-quarter forecast failed to meet some investors' expectations.

"The market was positioned long and I don't think that the numbers that they (Nvidia) delivered are going to be sufficient to see that enthusiasm continue at least in the short term and of course that's why it weighing on the ASX 200," said Tony Sycamore, market analyst at IG.

Financials XFJ rose 0.3% after minutes of the Reserve Bank of Australia's November meeting earlier this week revealed that the central bank was is no rush to change interest rates. Three of the "Big Four" banks rose between 0.2% and 1.5%.

The index of local gold stocks XGD rose 1.3% to its highest in over a week, tracking a rally in the precious metal. The sub-index logged its fifth consecutive session of gains.

Gold miners Evolution Mining EVN added 1.4% while Northern Star Resources NST climbed 2.9%.

Energy stocks XEJ inched higher, as oil prices edged up due to the rising tensions between Ukraine and Russia.

Sector majors Woodside WDS and Santos STO rose 0.5% and 0.2%, respectively.

New Zealand's benchmark S&P/NZX 50 index NZ50G rose 0.2% to 12,765.24 points.