The Nifty50 is likely to open flat on Wednesday following muted trend seen in other Asian markets. The Nifty50 closed 55 points higher at 10,842 on Tuesday.

Trends on SGX Nifty indicate a positive opening for the broader index in India, a rise of 21.5 points or 0.2 percent. Nifty futures were trading around 10,769-level on the Singaporean Exchange.

Wall Street made modest gains on Tuesday while the US dollar rose slightly against a basket of major currencies, with only muted impact from the long-awaited US-North Korea summit aimed at denuclearizing the Korean peninsula, said a Reuters report.

Asian shares edged slightly lower on Wednesday as investors looked to the Federal Reserve policy decision and any clues it might give on future rate hikes, shifting focus away from the historic US-North Korea summit in Singapore, it said.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.15 percent in early trade while Japan's Nikkei eked out gains of 0.10 percent.