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Markets are likely to open on a flat note on the back of subdued global cues. At 0820 hrs, the SGX Nifty was down 18 points at 6,047.
Overnight, Wall Street had faded late after upbeat U.S. data on home building and house prices were offset by a disappointing reading on consumer confidence.
The Dow Jones industrial average shed its early gains to end flat, while the S&P 500 Index eked out a 0.01% rise.
The Nasdaq managed to outperform thanks to gains in big-cap technology stocks and finished above 4,000 for the first time since the dot-com bubble burst in 2000.
Adding to the cautious mood was an escalation of political tensions in parts of Asia as the White House has called China's demands that airlines inform Beijing when flying over disputed islands in the East China Sea "unnecessarily inflammatory."
Asian share markets nudged into the red on Wednesday following an uninspiring performance by Wall Street, while a dip in the dollar against the yen prompted profit-taking on Japanese stocks.
Losses were light as the Nikkei eased 0.2% and inched further away from the six-month peak touched on Monday. Conviction was equally lacking elsewhere, with MSCI's broadest index of Asia-Pacific shares outside Japan 0.1% lower.
Watch out for Indian Oil Corporation, Coal India, Power Grid Corporation of India and Engineers India in today's trade on account of disinvestment news.
Biocon may see an uptick as the company said it has received marketing authorisation from the Drugs Controller General of India for its trastuzumab biosimilar, being developed jointly with US’ Mylan, for the treatment of metastatic breast cancer.
Cairn India will be in spotlight after the company cleared a share buyback plan of Rs 5,725 crore for 8.9 per cent stake at a price not exceeding Rs 335 a equity share.
