The Indian markets are expected to open on a subdued note tracking weak global cues as investors turn cautious ahead of the Federal Reserve Meeting. The Nifty futures on the Singapore Exchange declined 14 points, at 5,149.
Markets may take a breather after rallying almost 2% yesterday as investors await the outcome of the Federal Reserve Open Market Committee meeting. There are expectations that the Fed may over some form of stimulus to boost the flagging economy.
Overnight, the Dow Jones industrial average gained 0.1%, Standard & Poor's 500 Index fell 0.2% and the Nasdaq Composite Index lost 0.9%.
In Asia, the markets opened on a mixed note, the Nikkei Stock Average was flat, up 0.1%, the Shanghai Composite index advanced over 1% and Hong Kong's Hang Seng fell 0.8%.
Back in India, among individual stocks Lupin will be on focus today after it announced the USFDA approval of its first oral contraceptive.
Coal and Power shares will be in focus in the morning session after Green Ministry softened stand on coal mining. The environment Ministry has agreed to discuss coal projects on case-by-case basis.
Foreign Institutional Investors (FIIs) were net buyers of Rs 319 crore, while the Domestic Institutional Investors (DIIs) were net sellers of Rs 318 crore in cash on Tuesday according to the provisional data from the Bombay Stock Exchange.