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At 7:30 am, the SGX Nifty futures were 30-odd points lower at 18,735 levels.
The market action will be guided by the RBI’s rate hike decision today. The central bank is widely expected to deliver a smaller 35 bps rate increase as domestic commodity prices cool off.
Globally, Asian equities were weak this morning. Nikkei, Topix and Kospi fell up to 0.7 per cent, while Hang Seng held marginal gains.
In the US, benchmark indices Dow Jones, S&P500 and Nasdaq slipped 1-2 per cent on Tuesday as investors grew worried over recession fears.
Brent Crude futures fell 4 per cent to $79.35 a barrel on Tuesday amid fears of a demand slowdown.
Among stocks, rate-sensitive sectors such as financial, realty and auto will be in focus.
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