The BSE Sensex is set to start lower on Thursday after gaining 3.4% in the previous session, as concerns of slowing domestic growth and government policy inaction continue to haunt investors.
Mostly subdued other Asian markets will also add to the downward pressure, traders said.
Software exporters such as Tata Consultancy Services , Infosys Ltd and Wipro could fall after dismal results from Oracle Corp , the world's No.3 software maker, stoke renewed fears of a slowdown in global technology spending.
Infosys' Nasdaq-listed shares fell 4.1% on Wednesday, while Wipro eased 0.5% after Oracle's first earnings miss in a decade.
.Asian shares eased on Thursday as doubts remained over how much of the funds banks raised from an inaugural long-term European Central Bank tender will actually flow into struggling euro zone economies and help restore confidence.
By 0245 GMT, the MSCI's broadest index of Asia Pacific shares outside Japan was down 0.8%, while the Nifty India stock futures in Singapore were down 0.9%, pointing to a lower opening for the domestic market.
On Wednesday, India's main BSE index rose to its highest close since August 29, snapping five sessions of losses.
STOCKS TO WATCH
* United Spirits Ltd , after the liquor maker said its board approved raising up to USD 225 million through foreign currency convertible bonds.
* Financial Technologies (India) Ltd , after the company said it repaid USD 133.16 million outstanding amount against foreign currency convertible bond raised in 2006.
* SEL Manufacturing Co Ltd , after the textiles firm said its board has approved allotment of 12 million convertible equity warrants at 15.25 rupees each to promoters.
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