Benchmark indices BSE Sensex and NSE Nifty are likely to open in negative on Wednesday tracking SGX Nifty and Asian markets.
At 8.29 am (IST), SGX Nifty was down 71 points, or 0.96 per cent, at 7,366.
Asian share markets slipped on Wednesday as a relentless slide in oil prices wiped out an attempted rally on Wall Street and dealt a fresh blow to risk appetite.
Hang Seng, Nikkei and Shanghai were down by 3 per cent, 2.15 per cent and 0.71 per cent.
Back home, Sensex rebounded from 20-month lows by recovering 291.47 points to end at 24,479.84 on value-buying in recently beaten-down stocks amid firm Asian cues.
Reliance Industries will remain in focus as the index heavyweight on Tuesday posted its highest-ever quarterly net profit of Rs 7,290 crore for the three months ended December on refinery margins spiking to seven-year high.
(With agency inputs)