)
Markets are likely to open track weakness in their Asian peers and overnight losses in US stocks. Further, selling by foreign funds will continue to weigh on market sentiment.
At 8:45AM, the early indicator SGX Nifty was trading 28 points lower at 7,857.
Foreign funds were net sellers in equities to the tune of Rs 332.84 crore on Tuesday.
Asian markets were trading lower on Wednesday amid growth concerns in China. Further, China's services sector growth slipped in September as new business cooled, a private survey showed on Wednesday, reinforcing signs of a slowdown in the world's second-largest economy. The services purchasing managers' index (PMI) compiled by HSBC/Markit pulled back to 53.5 in September from a 17-month high of 54.1 in August.
Shares in Japan were down on the back of a stronger yen. The benchmark Nikkei was down 1.5%. Hang Seng slipped 0.8% while shares in mainland China were trading marginally lower. Further, Straits Times was down 0.5%.
US stock ended lower on Tuesday amid growth concerns in Germany industrial output in August slumped to 4%, the highest fall in 5 1/2 years. The Dow Jones ended down 272 points at 16,719.39, the broader S&P 500 slipped 30 points to close at 1,935.10 and the tech-laden Nasdaq ended down 70 points at 4,385.20.
Stocks to watch
BHEL, Bharat Electronics may be in focus on reports that the government has cleared 33 long-pending defence projects
Bharat Forge will be in focus on the company's plans to amalgamate its joint venture companies.
Gulf Oil Corporation will see some action after ICRA upgraded its credit rating post demerger.
ONGC will see some activity on reports that the company along with its overseas arm OVL have lost the bid for Murphy's oil and gas assets in Malaysia.
Jindal Stainless may see some action after the company said it has submitted asset monetisation plan to its lenders.
