The Indian equity benchmarks are likely to open on a negative note on Wednesday as indicated by the Nifty futures traded on the Singapore Exchange. The SGX index was trading 89.5 points or 0.50 per cent lower at 17,705.
On Tuesday, while the Sensex settled 578.51 points higher at 59,719, the Nifty 50 index was trading 194 points higher to end at 17,816.
Here are key things to know before the markets open on Wednesday.
US Markets
The US stocks closed lower on Tuesday as investors fear the key rate hike by the US Federal Reserve. The S&P500 index was trading 43.96 points or 1.1 per cent lower at 3,855, whereas the Dow Jones Industrial Average slipped 313.45 points or 1 per cent at 30,706. While the Nasdaq declined by 109.97 points or 1 per cent to 11,425, the Russell 2000 index of smaller companies slipped 25.34 points or 1.4 per cent at 1,787.50.
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Asian Markets
The Asian stocks were trading lower in early trade on Wednesday. Tokyo’s Nikkei 225 slipped 1.39 per cent, whereas South Korea’s KOSPI declined 0.90 per cent. Singapore’s Hang Seng index was trading 1.48 per cent lower. China’s Shanghai Composite fell 0.43 per cent, whereas Shenzhen Component slipped 0.91 per cent.
FII and DII Data
The foreign institutional investors were the net buyers worth Rs 1196 crore, whereas the domestic institutional investors bought shares worth Rs 131 crore on Tuesday.
Crude Oil and Gold Prices
Crude oil slid on Wednesday on concerns that the rate hike by the US Federal Reserve could lead to recession and plunging fuel demand. Brent crude futures plunged 26 cents or 0.3 per cent to $90.36 per barrel at 0040 GMT, whereas US West Texas Intermediate declined 20 cents or 0.2 per cent at $83.74 per barrel.
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Gold prices remained unchanged in early trade on Wednesday. While the Spot gold remained flat at $1,653, the US gold futures surged 0.1 per cent higher to $1,686.
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