The benchmark indices are likely to open lower on Wednesday on global cues. Nifty futures on the Singapore Exchange traded 43 points, or 0.27 per cent, lower at 16,167.50, signaling that Dalal Street was headed for a negative start on Wednesday.
The Sensex and Nifty closed in the red for the third straight session on Tuesday dragged by nearly 7 per cent slump in Tata Steel. The 30 stock S&P BSE Sensex closed 105.82 points or 0.19 per cent down at 54,364.85 points against its previous day's close at 54,470.67 points. The broader Nifty 50 fell 61.80 points or 0.38 per cent to 16,240.05 points against its previous day's close at 16,301.85 points.
Asian Markets
The Asian markets tumbled on Wednesday; Tokyo stocks opened lower after a mixed close on Wall Street. The benchmark Nikkei 225 index was down 0.60 percent, or 158.31 points, at 26,008.79 in early trade, while the broader Topix index was off 0.54 percent, or 10.00 points, at 1,852.38.
Australian shares fell for a fourth straight day on Wednesday. The S&P/ASX 200 index slid 0.5% to 7,018.80 by 0035 GMT, after having ended 1% lower on Tuesday.
Hong Kong equities opened slightly lower on Wednesday. The Hang Seng Index dipped 0.62 percent at open, or 121.89 points, to 19,511.80. The Shanghai Composite Index rose 0.32 percent, or 10.19 points, to 3047.76, while the Shenzhen Composite Index on China's second exchange rose 0.61 percent, or 11.62 points, to 1,906.01.
US Markets
The S&P 500 and Nasdaq ended higher on Tuesday, with big growth shares rising after the previous day's selloff as Treasury yields tumbled. Bank shares fell along with yields. The benchmark 10-year note yield dropped from more than a three-year high to below 3 percent.
The Dow Jones Industrial Average fell 84.96 points, or 0.26 percent, to 32,160.74, the S&P 500 gained 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite added 114.42 points, or 0.98 percent, to 11,737.67.
Rupee recovers
Snapping two days of sharp losses, the rupee appreciated 10 paise to end at 77.34 against the US dollar on Tuesday, supported by a rebound in regional currencies and fall in crude oil prices. Forex traders said the RBI may have also intervened after the domestic unit plunged to its lifetime low in the previous session. The rupee had slumped 54 paise to close at a record low of 77.44 against the US dollar on Monday.
Oil Prices
Oil edged lower in early Asian trade on Wednesday, sustaining the previous session's weakness that was caused by risks to demand from an economic recession and on uncertainty about an embargo on Russian oil by the European Union. Brent crude was down 86 cents, or 1.1%, at $101.60 a barrel by 0002 GMT. U.S. West Texas Intermediate crude fell 80 cents, or 0.8%, to $98.96 a barrel.
FII and DII data
Foreign institutional investors (FIIs) have net offloaded shares worth Rs 3,960.59 crore, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 2,958.40 crore worth of shares on May 10, as per provisional data available on the NSE.
Results today
Adani Ports, Punjab National Bank, Indian Bank, Petronet LNG, Birla Corporation, JSW Ispat Special Products, Kalyan Jewellers India, Lloyds Steels Industries, Relaxo Footwears, and Cholamandalam Financial Holdings will release quarterly earnings on May 11.
