Share Market Live Updates: Sensex, Nifty likely to stage a gap-down opening today

Indian equity benchmarks on Wednesday are expected to stage a gap-down opening, in line with the weaker trend in global markets. Asian shares mostly traded lower in early deals as Japan's Nikkei Index fell 0.95 per cent, South Korea KOSPI was down 1.59 per cent and Hong Kong's Hang Seng Index dropped 1.56 per cent, tracking an overnight losses on Wall Street.

Trends on SGX Nifty indicated a lower opening for the domestic indices.

Here are the stock market Live Updates:

* Pre-opening: Sensex falls 408 points or 0.69 per cent to trade at 58,789 in pre-opening deals.

* Stocks in news: Suzlon Energy, Dreamfolks Services, Wipro, DLF and more

* Expert View: "There are near term strong headwinds for risky assets, globally. Bonds are in a strong bear market. US 10-year yield at 3.34 per cent and dollar index (above 110) are strong headwinds for capital flows to EMs like India. FPIs are buying in the cash market but hedging through increasing short positions in the derivatives market. High volatility with downward bias is in store for the markets in the near term. When globally equities correct, India too will correct. But India will fall less since falling crude, decent economic growth, impressive corporate earnings and retail investor enthusiasm will support the market at lower levels. Domestic economy-facing segments like banks, autos, capital goods, telecom and FMCG are relatively strong sectors," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

* Expert View: "Domestic equities are likely to join the global market slump in early trade, amid recurring worries of major central banks tightening interest rates to tackle rising inflation that could result in a global slowdown. Also, recession fears are getting stronger after Russia discontinued crucial oil supply to European nations. Besides, strengthening the dollar, hawkish US Federal Reserve bets and a new Covid-19 lockdown in China could also weigh on sentiment. Technically, Nifty may wobble with key support being at 17,401," said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd.

* SGX Nifty: Trends on SGX Nifty indicated a gap-down opening for the domestic markets. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures fell 194 points or 1.10 per cent to 17,481.

* Previous session: The 30-share BSE Sensex had slipped 49 points or 0.08 per cent to close at 59,197 on Tuesday; while the broader NSE Nifty had moved 10 points or 0.06 per cent to settle at 17,656.