Nifty Seen Opening Lower; Tata Motors In Focus

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.3 per cent though Hong Kong and South Korea are closed for holiday.

Nifty Seen Opening Lower; Tata Motors In Focus

Nifty futures on Singapore Exchange was indicating weak opening for Indian markets. Nifty futures on Singapore Exchange also known as SGX Nifty fell 107 points to 15,053. In yesterday's session, the Indian equity benchmarks rallied for second straight session on Tuesday and hit their highest level in more than two months as the daily rise in domestic coronavirus cases stayed below the 300,000 mark for a second straight day.

Asian stocks dipped and cryptocurrencies extended losses on Wednesday as uncertainties over inflation prompted investors to reduce exposure to riskier assets for now.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.3 per cent though Hong Kong and South Korea are closed for holiday.

Wall Street stocks slid late in the session to end lower on Tuesday, unable to sustain gains made after bumper earnings from Walmart and Home Depot.

The S&P 500 lost 0.85 per cent, with telecom shares leading the decline, while the Nasdaq Composite dropped 0.56 per cent.

Back home, Tata Motors will be in focus after its consolidated loss narrowed to Rs 7,605 crore in the fourth quarter ended March 2021 from Rs 9,894.25 crore in the corresponding quarter last year.