India's NSE stock futures listed on the Singapore exchange were down 1.1% as of 0216 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.7%.
Indian markets are expected to remain rangebound until the central bank's policy decision on Friday, analysts have said. The Reserve Bank of India's three-day policy meeting begins on Wednesday.
The NSE Nifty 50 index and the S&P BSE Sensex closed flat at 17,007 and 57,107.52, respectively, on Tuesday.
Foreign institutional investors sold a net 28.24 billion Indian rupees ($345.63 million) worth Indian equities on Tuesday, while domestic investors purchased net 35.05 billion rupees worth shares, as per provisional data available with the National Stock Exchange.
Stocks to watch:
** India's Axis Bank said it was looking to buy nearly 10% stake in Go Digit Life Insurance.
** India's Torrent Pharma will acquire Curatio Health Care for $245 million.
** Housing Development Finance Corp said HDFC Investments will sell 12% stake in Softcell Technologies.
** Motherson Sumi Wiring India will consider a proposal for the issue of bonus shares.
** India's shadow lender Piramal Capital and Housing Finance said the demand for loans is not showing any signs of slowdown.
** KPI Green Energy crosses cumulative consolidated solar power project capacity of 200+ Mwp. The company also secured an order from M. S. Synthetics.
** Rattanindia Power said it was holding discussions with lenders of unit, Sinnar Thermal Power for a resolution.
** Adani Enterprises raised 1 billion rupees by allotting non-convertible debentures.
** Mahindra and Mahindra said it sold 8.2 million shares of Mahindra CIE Automotive.
** SML Isuzu said it expects sales volume to increase and that export volumes would likely increase considerably in next 3-5 years.
** BHEL secured an order from NTPC for setting up 2x660 MW Talcher thermal power project stage-3.
** India's IFCI approved preferential issue of equity share capital worth up to 1 billion rupees to the India government.
** India's Wherrelz IT Solutions signed an agreement with Fedex Securities.
** Bharat Rasayan elevated Rajender Prasad Gupta as CEO.
** Nettlinx will consider raising of funds for expansion.
** Bank of India invested 100 million rupees in Open Network for Digital Commerce (ONDC). ($1 = 81.7050 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza)