The Nifty50 is expected to open lower on Wednesday tracking muted trend seen in other Asian markets. The index closed 29 point higher at 10,614 on Tuesday.

Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 56 points or 0.53 percent. Nifty futures were trading around 10,581-level on the Singapore Stock Exchange.

A gauge of world stocks tumbled on Tuesday, erasing early gains as US bond yields scaled the 3 percent threshold for the first time in four years, while oil prices reversed course after climbing above the USD 75 per barrel mark, said a Reuters report.

Asian shares were under pressure on Wednesday, with a rise in US bond yields above the 3 percent threshold and warnings from bellwether U.S. companies of higher costs driving fears that corporate earnings growth may peak soon, it said.

Oil prices slipped on concerns that the United States might reinstate sanctions against Iran faded somewhat, reducing worries about the future of Iranian exports. Brent slid 85 cents, or 1.1 percent, to settle at USD 73.86 a barrel, said a report.