GIFT Nifty:

Trading of Nifty 50 index futures on the GIFT Nifty indicates that the Nifty could fall 21 points at the opening bell.

Global markets:

Overseas, Asian stocks are mostly trading lower as China left its one-year and five-year loan prime rates unchanged. China's one-year and five-year loan prime rates were held at 3.45% and 4.2% respectively.

On Friday, the Bank of Japan will conclude its monetary policy meeting and traders will be looking for clarity on when the BOJ will start to shift its ultra-easy monetary policy. Elsewhere, the People's Bank of China is also expected to release its loan prime rate decisions on Friday.

US stocks ended lower on Tuesday ahead of the Fed's decision. The US Federal Reserve began its two-day policy meeting on Tuesday and will announce its interest rate decision on Thursday. The central bank is widely expected to hold rates steady, but investors will be paying close attention to the summary of economic projections and the press conference of Fed chair Jerome Powell for clues about what might happen in the months ahead.

Domestic markets:

Back home, the domestic equity benchmark indices ended lower on Monday amid negative global cues. The barometer index, the S&P BSE Sensex declined 241.79 points or 0.36% to 67,596.84. The Nifty 50 index lost 59.05 points or 0.29% to 20,133.30. The Indian equity market remained closed on Tuesday, 19 September, for Ganesh Chaturthi.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,236.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 552.55 crore in the Indian equity market on 18 September, provisional data showed.