Stock Market Today: Nifty50 & BSE Sensex Set For Muted Start Amid Asia Weakness

India's equity benchmarks are set for a flat open on Wednesday, pausing after two sessions of gains driven by hopes of tax cuts, while Asian shares tracked a tech sell-off on Wall Street ahead of the Federal Reserve's annual Jackson Hole conference.

Gift Nifty futures were trading at 24,967 as of 8:00 a.m. IST, indicating that the Nifty 50 will open near Tuesday's close of 24,980.65.

Asian markets slipped, with the MSCI Asia ex-Japan losing 0.8%, following declines in U.S. equities as investors ditched high-flying tech stocks with their lofty valuations, an analyst said.

On Tuesday, U.S. President Donald Trump said he hoped his Russian counterpart, Vladimir Putin, would move to end the conflict in Ukraine, but noted that the Kremlin may resist a deal.

Trump also signalled possible U.S. air support for Ukraine as part of negotiations to end Russia's war.

Meanwhile, investors are awaiting the Fed's annual symposium in Jackson Hole, Wyoming, between August 21-23. Most investors expect a 25-basis-point rate cut next month, but tariff concerns are keeping markets cautious.

Lower U.S. interest rates make emerging markets, including India, more appealing to foreign investors.

The Nifty and Sensex gained about 0.4% and 0.5%, respectively, on Tuesday, led by Reliance Industries and auto makers, and buoyed by hopes of a demand boost from proposed cuts to the goods and services tax (GST).

Foreign portfolio investors (FPIs) were net sellers of Indian shares worth 6.34 billion rupees ($72.8 million) on Tuesday.

Domestic institutional investors (DII) bought Indian shares worth 22.61 billion rupees in the last session, marking their 31st straight session of net inflows.

STOCKS TO WATCH

 Lloyds Metals and Energy emerges as the successful bidder for Tandsi extension coal mine, spanning 338 hectares.

Dynamic Cables gets a license from the Bureau of Indian Standards to manufacture Aluminium alloy stranded conductors, fire survival cables.

Endurance Technologies approves capacity addition for ABS, disc brake systems for a total investment of 1.36 billion rupees.