The domestic stock markets are likely to open in the green, post the 1 per cent fall in the previous session, going by early indications from SGX Nifty futures trading. Trends on SGX Nifty indicate a positive opening for the index in India, with a 43-points gain. At 7:30 am, the Nifty futures were trading at 14,575, higher by 43 points or 0.37 per cent, on the Singapore Stock Exchange.
Asian shares risked falling for a fourth straight session on Wednesday as sentiment took a knock from a selloff in large cap Wall Street tech darlings, combined with talk of rising U.S. interest rates.
Holidays in Japan, China and South Korea limited the early reaction, leaving MSCI’s broadest index of Asia-Pacific shares outside Japan dithering either side of flat. Japan’s Nikkei was shut, but futures traded down at 28,735 compared to the last cash close of 28,812.
Overnight, the Nasdaq fell more than 2 per cent on Tuesday as steep declines in megacap growth stocks pushed Wall Street below record trading levels, with investors seeking shelter in more defensive parts of the market.
The Dow Jones fell 0.69 per cent, S&P 500 was down 1.34 per cent and Nasdaq Composite shed 2.73 per cent.
On Monday, the markets had declined 1 per cent in a volatile trading session.
On the earnings front, Tata Steel, Adani Enterprises and Adani Green will report results for the quarter ended March 2021.