Indian shares are likely to open lower on Wednesday ahead of the Reserve Bank of India’s monetary policy decision later in the day.
According to a CNBC-TV18 poll, the central bank is likely to bring down the key repo rate by 25 basis points. Moreover, June quarter earnings and continued selling by FIIs may also weigh on Indian shares.
Asian shares traded marginally higher after China took steps to stabilise yuan.
BSE Sensex and NSE’s Nifty 50 closed nearly 0.8 percent higher in the previous session led by value buying in financial and auto stocks. The Sensex settled 277 points higher, or 0.75 percent, to close Tuesday's trade at 36,977. The Nifty50 also gained 86 points, or 0.79 percent, to settle at 10,948.
At 7.26 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, futures traded 55 points, or 0.55 percent, lower at 10,907, indicating a negative start for the Sensex and the Nifty 50.
Stocks to watch: RIL, Fortis, DHFL, Tata Steel, DMart in focus. Click here to know more.
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