The trends on Gift Nifty also indicate a negative start for the Indian benchmark index. The Gift Nifty was trading around 22,442.50 level, a discount of 187.85 points from the Nifty futures’ previous close.

India's equity markets will be put to test on Wednesday as the potential recovery on Wall Street was short-lived overnight. The Nifty ended 375 points higher on Tuesday, above the mark of 22,500, but all of that will be under the scanner as the futures in the US markets are trading with steep cuts.

Among the 30 Sensex stocks, Infosys fell the most upon opening by 0.54 per cent, trading at ₹ 1,594.95. This was followed by Zomato, which was down 0.53 per cent, trading at ₹ 204.65, and IndusInd Bank, which was down by 0.35 per cent, trading at ₹ 671.25.