The domestic stock markets are likely to open flat, albeit with a negative bias, following mixed Asian cues. Trends on SGX Nifty indicate a flat opening for the index in India, with a 19 points loss. At 7:30 am, the Nifty futures were trading at 11,512, lower by 19 points or 0.1 per cent on the Singapore Stock Exchange.
Asian shares were set for a mixed open on Wednesday as investors awaited the Federal Reserve's view on the economy at the end of its policy meeting, although upbeat Chinese and U.S. economic data is likely to give sentiment a tailwind.
Australian S&P/ASX 200 futures rose 0.75 per cent in early trading. Japan's Nikkei 225 futures slid 0.13 per cent. Hong Kong's Hang Seng index futures rose 0.33 per cent.
Overnight, U.S. stocks rose as investors hoped the Federal Reserve would stick with its supportive policy stance as the central bank's two-day meeting got under way.
The Dow Jones rose 0.01 per cent, the S&P 500 gained 0.52 per cent and Nasdaq Composite added 1.21 per cent,.
Meanwhile, oil prices rose on Wednesday, extending gains from the previous session, as a hurricane disrupted U.S. offshore oil and gas production and an industry report showed a big drop in U.S. crude stockpiles.
Brent crude was trading up 15 cents, or 0.4 per cent, at $40.68 a barrel by 0055 GMT, while U.S. crude gained 18 cents, or 0.5 per cent, to $38.46 a barrel. Both contracts rose by more than 2 per cent on Tuesday.
The benchmark indices ended higher in trade on Tuesday, led by gains in HDFC Bank, ICICI Bank, Reliance Industries, HDFC, Kotak Mahindra Bank, Infosys and Axis Bank. The Sensex ended 0.74 per cent or 288 points higher at 39,044 and Nifty 50 index climbed 82 points or 0.71 per cent to close at 11,522.