The Indian equity benchmarks are set to open on a flat note as indicated by the Nifty Futures traded on Singapore Exchange. The Nifty Futures on Singapore Exchange also known as the SGX Nifty Futures rose 7 points to 17,877 amid weak cues from other Asian markets. Japan’s Nikkei fell 0.8 per cent, Hong Kong’s Hang Seng declined 1.3 per cent and China’s Shanghai Composite dropped 0.4 per cent.

Overnight, all three major U.S. indices ended the day lower, as investors processed whether strong consumer activity in the face of rising inflation could spur the Fed to ease back on stimulus faster than once thought.

The Dow Jones Industrial Average fell 0.58 per cent, the S&P 500 lost 0.26 per cent and the Nasdaq Composite dropped 0.33 per cent.

The MSCI world equity index, which tracks shares in 45 nations, fell 0.29 per cent.

Soaring petrol prices in Europe added to inflation fears, but strong earnings reports helped push Germany’s DAX, the French CAC 40 and the pan-European STOXX 600 to fresh closing records.

Back home, foreign institutional investors sold shares worth Rs 34 crore and domestic institutional investors sold shares worth Rs 61 crore on Wednesday.

One 97 Communications, the parent of digital payments firm – Paytm – will make their stock market debut at 10:00 am today. The company sold shares at Rs 2,150 in th IPO which closed on November 10 and was subscribed 1.89 times.