The Indian equities benchmark is likely to open on a flat to positive note on Wednesday, as indicated by the Nifty Futures trading at the Singapore Exchange. The SGX index was trading 1 point or 0.01 per cent higher at 15,723.
On Tuesday, the 30-share BSE Sensex plunged 153 points lower at 52,693, whereas the broader NSE Nifty 50 index tanked 75 points to close at 15,699.
The major indices in the US were trading lower on Tuesday as the fear of a more repo rate hike by the Federal Reserve to tame inflation gripped investors’ sentiments. The S&P 500 declined 14.15 points or 0.4 per cent to 3,735, whereas the Dow Jones Industrial Average slumped 151.91 points or 0.5 per cent to 30,364. Meanwhile, the Nasdaq Composite surged 19.12 points or 0.2 per cent to 10,828 following gains in technology stocks.
The major indices in Asia were trading on a cautious note on Wednesday. Japan’s Nikkei 225 slumped 0.59 per cent, whereas South Korea’s KOSPI was down 1.08 per cent. Hang Seng index was trading higher at 0.94 per cent. While China’s Shanghai Composite rose 0.69 per cent, Shenzhen Component advanced 0.97 per cent.
The foreign institutional investors (FII) continued to remain the net sellers worth Rs 4,502 crore, whereas the domestic institutional investors (DII) remained the net buyers worth Rs 3,807 crore on Tuesday, according to the data available on NSE.
Crude oil prices dropped in the early hours on Wednesday owing to the worries of fuel demand ahead of the US Fed meeting. The West Texas Intermediate Futures slipped 8 cents or 0.1 per cent t0 $118.85 per barrel by 0008 GMT, whereas Brent crude futures fell 26 cents or 0.2 per cent to $120.91 per barrel.
The Indian Rupee witnessed a marginal recovery of 1 paise to close at 78.03 against US Dollars amid a weak greenback overseas.
Airtel, NTPC, UPL, Asian Paint, Yes Bank, IDBI Bank, IIFL Wealth Management and PNB Housing Finance.
