Sensex, Nifty likely to open lower; Dr Reddy’s Labs, Alembic Pharma, IndiGo, SpiceJet in focus

Indian shares are likely to open lower on Wednesday following losses in global markets and in absence of any government actions on the economy.

Asian shares declined over trade war concerns US President Donald Trump showing no signs of backing down in his trade war with China. Indian shares snapped a three-day winning streak and ended marginally lower in the previous session.

Indian benchmark indices BSE Sensex and NSE Nifty50 ended marginally lower in the previous session as cautious investors awaited more details on reports of a corporate tax rate cut by the government before making fresh bets. The 30-share benchmark Sensex settled 74 points down, or 0.2 percent, at 37,328. The broader 50-share NSE index ended mildly lower at 11,017, down 37 points, or 0.33 percent.

At 7:38 AM, the SGX Nifty futures traded 20.50 points, or 0.19 percent, lower at 11,008.00, indicating a negative start for the Sensex and the Nifty.

Stocks to watch: Dr. Reddy’s Labs, Alembic Pharma, IndiGo, SpiceJet in focus.