 "Pre-Market: Negative global cues to weigh")
Asian shares declined on caution before the European Central Bank's interest rate decision later in the session.
Oil futures dropped on Wednesday after the latest economic data in the United States and China cast doubts about the strength of the global economy.
Among the key Asian indices, Japan’s Nikkei was down 0.2% to 13, 769 in the opening deals.
Overnight, US stocks dropped after the US Fed said recent budget tightening in Washington could be a risk to growth.
The Dow Jones industrial average lost 138.85 points, or 0.94 percent, to 14,700.95 at the close. The Standard & Poor's 500 Index dropped 14.87 points, or 0.93 percent, to finish at 1,582.70. The Nasdaq Composite Index slid 29.66 points, or 0.89 percent, to close at 3,299.13.
Domestically, in the earnings calendar, we have Alembic Pharma, Astrazeneca Pharma, Bharti Airtel and Kotak Mahindra Bank which are slated to announce their fourth quarter performances today.
Following stocks are expected to move on the exchanges today:
Maruti Suzuki’s Unit sales in the month of April 2013 declined to 97,302 units compared to 119,937 units sold in the month of March 2013. The company sales even came lower than what it had sold in the month of April 2012 (100,415 units).
TVS Motor has planned a capital expenditure of Rs 175 crore for 2013-14, up from Rs 100 crore the previous year.
The investment will support company's new two launches, including one scooter and motorcycle. Analysts feels that the new launches are “extremely important” for the company to gain market share, which has slipped in recent months.
Auto-maker Mahindra & Mahindra today reported 1.76% increase in its total sales at 41,432 units in April 2013.