At 7:30 am, the Nifty futures were trading lower by 0.4 per cent on the Singapore Stock Exchange.
The domestic stock markets are likely to open in the red, a day after rebounding by 1 per cent, due to unfavourable global cues. Asian markets seem headed for an uncertain start and trends on SGX Nifty indicate a negative opening for the index in India, with a 52-points loss. At 7:30 am, the Nifty futures were trading at 13,430, lower by 52 points or 0.4 per cent on the Singapore Stock Exchange.
Asian shares were set for choppy trade on Wednesday as the investor focus swung between concerns about a new faster-spreading variant of the coronavirus and hopes that more U.S. fiscal aid would propel an economic recovery.
Australia's S&P/ASX 200 was up 0.60 per cent in early trading, following three-straight days of losses. Japan's Nikkei 225 futures were down 0.13 per cent, while Hong Kong's Hang Seng index futures were down 0.05 per cent.
The S&P 500 lost ground on Tuesday as concerns over a new variant of the coronavirus and disappointing economic data stole the thunder from Washington's passage of a long-awaited pandemic relief bill.
The Dow Jones fell 0.67 per cent to 30,015.51 and the S&P 500 lost 0.21 per cent to 3,687.26, while the Nasdaq Composite added 0.51 per cent to 12,807.92.
Meanwhile, oil declined towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery. Brent crude was down 60 cents, or 1.2 per cent, at $50.32 a barrel by 11:58 a.m. EST (1558 GMT), while U.S. West Texas Intermediate (WTI) crude fell 72 cents, or 1.5 per cent, to $47.25.
On Tuesday, the Sensex had ended 453 points or 1 per cent higher at 46,006.69 and Nifty 50 index had climbed 138 points or 1 per cent to settle at 13,466.
