Domestic stock markets are likely to start Wednesday's session on a negative note amid weakness in Asian peers. The Singapore Exchange (SGX) Nifty futures - an early indicator of the National Stock Exchange (NSE) Nifty index in India - dropped as much as 28.5 points to 12,361.50 ahead of the opening of Indian markets. At 8:30 am, the SGX Nifty futures were down 25.50 points - or 0.21 per cent - at 12,364.50.
Wipro shares will be in focus on Wednesday, a day after the IT major reported its earnings for the third quarter of current financial year. Its net profit came in at Rs 2,455.9 crore for the quarter ended December 31, down 3.79 per cent compared with the previous quarter.
Equities in other Asian markets were steady in early trade as investors awaited the signing of an initial US-China trade deal, with sentiment somewhat dented by comments from the US Treasury Secretary that tariffs would remain in place for now.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.13 per cent, Japan's benchmark Nikkei shed 0.29 per cent. Overnight, US stocks dipped, reversing earlier intraday record highs, after Treasury Secretary Steven Mnuchin said the US would keep in place tariffs on Chinese goods until the completion of a second phase of a trade agreement with China.
The news came hours before the signing of a preliminary trade agreement to ease an 18-month-old trade war between the world's two largest economies.
The S&P BSE Sensex and NSE Nifty benchmark indices registered new record closing highs on Tuesday. The Sensex ended 92.94 points - or 0.22 per cent - higher at 41,952.63 and the Nifty settled at 12,362.30, up 32.75 points - or 0.27 per cent - from the previous close.