Market may open with small losses

SGX Nifty:

Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could fall 29 points at the opening bell.

On the macro data front, investors are awaiting the industrial production and manufacturing production data for March, and inflation for April, scheduled to be released later in the day.

Global markets:

Overseas, Asian stocks are trading mostly lower on Wednesday, as investors remain cautious over growing inflation worries.

U.S. stocks dropped on Tuesday as speculation that rising inflation pressure could prompt interest rate hikes sooner rather than later dragged on shares.

Domestic markets:

Back home, domestic indices snapped four-day rising streak on Tuesday on account of negative global cues. The barometer index, the S&P BSE Sensex, declined 340.60 points or 0.69% to 49,161.81. The Nifty 50 index fell 91.60 points or 0.61% at 14,850.75.

Foreign portfolio investors (FPIs) sold shares worth Rs 336 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 676.67 crore in the Indian equity market on 11 May, provisional data showed.

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