At 7:30 am, the Nifty futures were trading lower by 4 points on Singapore Stock Exchange.
The domestic equity markets are likely to open flat, post the rally in the previous five trading sessions, following mixed Asian cues amid continuous rise in COVID-19 cases. Trends on SGX Nifty indicate a flat opening for the index with a 4 points loss. At 7:30 am, the Nifty futures were trading at 11,160, lower by 4 points, on the Singapore Stock Exchange.
Asia shares were set to open lower on Wednesday after U.S. President Donald Trump's comments regarding the country's surge in novel coronavirus cases outweighed a slight rally on Wall Street.
Australian S&P/ASX 200 futures lost 1.06 per cent in early trading. Japan's Nikkei 225 futures added 0.24 per cent, while Hong Kong's Hang Seng index futures lost 0.34 per cent.
The S&P 500 edged higher on Tuesday, as investors rotated into economically sensitive cyclical stocks, optimistic that Washington will deliver a new round of stimulus to sustain the U.S. economic recovery from a pandemic-induced recession.
The Dow Jones rose 0.6 per cent and the S&P 500 gained 0.17 per cent, while Nasdaq Composite dropped 0.81 per cent.
Meanwhile, oil prices fell on Wednesday as industry data showed a bigger- than-expected inventory build in the United States where coronavirus cases continue to climb, potentially further denting demand in the world's biggest oil consumer. Brent crude fell 32 cents, or 0.7 per cent to $44 a barrel by 0156 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 33 cents, or 0.8%, to $41.59.
Larsen & Toubro, and Bajaj Auto are among the major companies scheduled to announce their Q1 numbers later in the day.
The benchmark indices had extended their rally to a fifth straight session on Tuesday; the Sensex ended 511.34 points - or 1.37 per cent - higher at 37,930.33, and the Nifty settled at 11,168.65 for the day, up 146.45 points - or 1.33 per cent - from its previous close.
