The BSE Sensex and NSE Nifty are likely to open in red on Wednesday tracking SGX Nifty and weak global cues.
At 8.31 am (IST), SGX Nifty was down 17.50 points, or 0.22 per cent, at 8,111.50.
Asian shares tottered on Wednesday, taking cues from Wall Street’s losses and pressured by a continued selloff in oil as investors awaited consumer price data from China this session. Hang Seng, Nikkei and Shanghai were down 0.28 per cent, 1.99 per cent and 0.07 per cent.
Faced with concerns about a global slowdown, the Monetary Authority of Singapore said on Wednesday that it will ease its monetary policy for the second time this year by slowing the pace of the Singapore dollar’s appreciation.
On Wall Street on Tuesday, stocks slipped, with the S&P 500 touching a fresh seven-week high before ending solidly down. S&P 500 e-mini futures edged down about 0.1 percent in Asian trading.
Back home, Sensex and Nifty dipped 0.21 per cent and 0.15 per cent, respectively, on Tuesday.
(With inputs from Reuters)