The BSE Sensex on Wednesday fell 115 points to 34,501, while the NSE Nifty slipped 44 points to 10,571.
The market, however, is likely to open in the green due to strong global cues.
Here's what you should know before the opening bell:
The Wall Street indices except Nasdaq ended higher while the Dow snapped its four-day losing streak after Boeing upped in trade as it announced its results.
The Asian market is trading higher after the positive push from the US market. Korea's KOSPI is trading near day's high while Japan's Nikkei is up by over 140 points.
The SGX Nifty is trading at 10,580 levels versus the Nifty April Future's Wednesday close of 10,569, indicating a mildly green opening for the Indian market.
Oil prices rose on Thursday, lifted by concerns over supply disruptions in Venezuela and the Middle East as well as by strong demand.
Reserve Bank of India is expected to raise key policy rates by 25 basis points in June, largely on account of sharp increase in crude oil prices over the last few months, says a Deutsche Bank Research report.
Axis Bank, Yes Bank, SBI Life, among others, will declare their quarterly earnings today.
Indian economy is expected to witness a cyclical recovery driven by investments as well as consumption, and the average GDP growth is expected to rise to 7.8 percent in the first half of this year, according to a Nomura report.
Gold slumped to a five-week low on Wednesday as the dollar jumped and US Treasury yields continued to rise on signs of US economic strength and an easing in the US-China trade conflict.
The rupee hit a 14-month low of 66.90 against the US dollar, the third biggest single-day fall for the domestic currency this year.