Markets likely to open flat to positive

Indian equities markets swung between gains and losses on Tuesday and ended the trade on a flat note ahead of US Fed meet and as Brexit worries continued to affect global markets. Sensex closed 1.06 points down at 26,395.71, while Nifty 50 index settled 1.75 points down at 8,108.85. On the broader markets front, the BSE Midcap and Smallcap indices gained 0.2% and 0.5%, respectively.

Wholesale Price Index (WPI) in the month of May 2016 has increased to 0.79% compared to 0.34% in the previous month and -2.20% during the corresponding month of the previous year.

U.S. stocks closed lower Tuesday for the fourth straight session, as losses in the Financials, Basic Materials and Consumer Services sectors dragged shares lower. The S&P 500 shed 3.74 points, or 0.2%, to close at 2,075.32. The Dow Jones Industrial Average fell 57.66 points, or 0.3%, to finish at 17,674.82. The Nasdaq Composite Index declined 4.89 points, or 0.1%, to close at 4,843.55.

European stocks extended a fifth consecutive decline on Tuesday as heightened ”Brexit” worries unsettled equity investors. The Stoxx Europe 600 fell 1.9% to 320.53. The U.K’s FTSE 100 dropped 2% to 5,923.53. Germany’s DAX 30 lost 1.4% at 9,519.20, and France’s CAC 40 shed 2.3% at 4,130.33.

Mostly Asian markets are trading in green on Wednesday morning. Chinese markets recovered from initial losses of 1% but then retraced to trade up 0.62%. Japan's Nikkei 225 index has advanced 0.72%, while the Kospi index traded at flat. New Zealand’s S&P/NZX 50 Index was up 0.77% and Australia’s S&P/ASX 200 index has dropped 0.18%.

On the domestic front, A SGX Nifty 50 index future for June series is trading up by 17.5 points at 8,135. Indian markets are likely to open flat to positive.