Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to open sharply lower on Wednesday, following two back-to-back days of gains, amid nervousness across global markets ahead of a key rate decision by the Fed. Singapore Exchange (SGX) Nifty futures — an early indicator of the Nifty index — fell as much as 94.5 points or 0.5 percent to 17,700.5 ahead of the opening bell on Dalal Street.

Later in the day, the US central bank is widely expected to zero down on a 75 basis-point hike in the key lending rates.

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