Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 77 points at the opening bell.
Overseas, Asian stocks are trading mixed on Wednesday as investors waited for the release of Chinese economic data.
In economic developments, China's factory activity expanded at a faster-than-expected pace in March. The official manufacturing Purchasing Managers Index (PMI) rose to 51.9 from 50.6 in February, data from the National Bureau of Statistics (NBS) showed today.
Japan's industrial output fell in February. Official data released today showed factory output shrank 2.1% from the previous month in February, dragged down by falls in production of cars, electrical machinery and information and communication equipment.
U.S. stocks fell Tuesday as major technology shares came under pressure again after the 10-year Treasury yield touched its highest level since January 2020.
The 10-year Treasury yield climbed 6 basis points to top 1.77% earlier Tuesday, hitting its highest level in 14 months as vaccine rollouts and expected infrastructure spending boosted the outlook for a broad economic recovery and rising inflation. The benchmark rate later turned flat at 1.72%.
The Conference Board's Consumer Confidence Index surged in March to 109.7, its highest reading in a year.
Back home, the domestic equity benchmarks ended with robust gains on Tuesday, mirroring firm global stocks. The barometer index, the S&P BSE Sensex, soared 1,128.08 points or 2.30% at 50,136.58. The Nifty 50 index surged 337.80 points or 2.33% at 14,845.10.
Foreign portfolio investors (FPIs) bought shares worth Rs 769.47 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 2,181.01 crore in the Indian equity market on 30 March, provisional data showed.