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After witnessing a strong sell off yesterday amid global growth concern, markets are likely to open flat tracking mixed global cues.
Benchmark share indices ended at seven-week lows on Tuesday after sharp decline in the rupee, widening trade deficit and global growth concerns led to sell off across the board by investors.
At 8:13AM, the SGX Nifty was trading marginally lower by 8 points at 8,104.
Meanwhile, foreign institutional investors were net sellers in Indian equities worth Rs 1,247.24 crore on Tuesday, as per provisional stock exchange data.
On the global front, US stocks rose in a volatile Tuesday session as energy shares rallied and investors bet the Federal Reserve will be cautious in removing support in the face of a more fragile global economy.
Brent crude fell as much as 4.2 percent but was last down 1.2% at $60.36 a barrel. US crude, which fell as much as 4.1%, was recently up 0.2 percent at $56.04 a barrel after gaining as much as 2.2%.
The S&P 500 was posting 10 new 52-week highs and 39 lows; the Nasdaq Composite was recording 22 new highs and 154 lows.
Japanese stocks rose on Wednesday as hopes of a continuation of the US Federal Reserve's dovish stance on rates helped exporter shares brush off a stronger yen, and chart support staunched the Nikkei's recent losses.
The Nikkei benchmark ticked up 0.5% to 16,834.53, after quickly recouping slim losses at the open.
STOCKS TO WATCH
State Bank of India, the country's largest lender, is exploring an option to set up a wholly owned subsidiary to manage its large portfolio of real estate, including at least 1,000 offices and 10,000 officers' apartments.
The government has approved a series of measures to bail out cash-strapped airline SpiceJet, which is in danger of having to suspend operations.
NTPC has issued a second expression of interest (EOI) for acquiring coal-based thermal power projects, to put to use its cash reserve of around Rs 5,000 crore.
The state government has issued orders to restart operations of four captive iron ore mines of Tata Steel following an interim order of the Odisha High Court (HC).
Dr Reddy's Laboratories has launched anti viral drug Valganciclovir in the US market on Monday after the US Food and Drug Administration (US FDA) granted the approval.
The acquisition of US-based global telecom network services provider Lightbridge Communications Corporation, or LCC, has taken Tech Mahindra a step closer to its target of becoming a $5-billion company by the end of 2015-16.
Jagran Prakashan (JPL), which publishes 12 newspapers including its flagship brand Dainik Jagran, is set to enter the radio space with the acquisition of Media Broadcast Private Limited (MBPL)'s Radio City 91.1 FM.
