India's GIFT Nifty was trading at 22,178 as of 7:54 a.m. IST, indicating that the Nifty 50 will open near its Tuesday's close of 22,147.50.
Indian markets were closed on Wednesday for a local holiday. The benchmark Nifty 50 and S&P BSE Sensex have lost about 2.7% each in the last three sessions.
They had notched record closing highs on April 10.
Wall Street equities closed lower overnight after U.S. Federal Reserve Chair Jerome Powell declined to provide guidance on the timing and extent of expected interest rates, dimming hopes of early rate cuts in 2024.
Tensions in the Middle East remained high after Israel threatened retaliation against Iran for its weekend missile attack.
Asian markets opened marginally higher. [MKTS/GLOB]
Foreign portfolio investors (FPIs) sold a net 44.68 billion rupees (about $535 million) worth of Indian stocks on Tuesday, after offloading 112.95 billion rupees of shares in the previous two sessions.
Domestic institutional investors have been net buyers for six sessions in a row.
STOCKS TO WATCH:
** Key earnings: Bajaj Auto, Infosys and HDFC Life Insurance Company.
** Tata Communications: The company reported year-on-year drop in consolidated net profit in March quarter.
** ICICI Lombard General Insurance: Company reported a 19% rise in fourth-quarter profit, helped by an increase in premiums at its motor and health insurance units.
** Angel One: Brokerage firm posted a 27% rise in March quarter profit, aided by a jump in trading activity.
($1 = 83.5510 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
