India's NSE stock futures listed on the Singapore exchange were down 0.32% to 18,690, as of 7:35 a.m. IST.
Fed Chair Jerome Powell said that the Fed will maintain a "restrictive enough" policy stance to control inflation, and raised the short-term rate target by 50 basis points.
Wall Street equities slid after the statement, with all the key indexes logging losses.
Asian markets were also off to a tepid start, with the MSCI Asia ex Japan sliding 1.02%. [MKTS/GLOB/]
Adding to the woes for Indian markets could be oil prices, which rose after the Organisation of the Petroleum Exporting Countries and the International Energy Agency forecast a demand rebound in 2023. [O/R]
The rise in oil prices is a negative for oil-importing countries like India, where crude constitutes the bulk of the import bill.
Foreign institutional investors purchased 3.72 billion rupees ($45.07 million) worth of equities on a net basis on Wednesday, while domestic investors bought 9.26 billion rupee$112.20 million) worth of shares, as per provisional NSE data.
Stocks To Watch:
** IRCTC: Co to offload 20 million shares (2.5% stake) through offer-for-sale (OFS) route between Dec. 15 and Dec. 16 at 680 rupees per share floor price.
** Dilip Buildcon: Co executed a contract agreement worth 10.61 billion rupees with the Gujarat Metro Rail Corporation.
** NTPC: Co commercialised and began operations of the second part capacity of 67.73 Megawatt out of 230 Megawatt Ettayapuram solar PV project.
** Poonawalla Fincorp: Co approved the sale of housing subsidiary Poonawalla Housing Finance to TPG at 39 billion rupees.
($1 = 82.5320 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman)
