Indian equity benchmarks BSE Sensex and NSE Nifty50 are likely to make a gap-down start on Wednesday tracking weakness across global markets, as investors' focus returned to the possibility of aggressive monetary policy tightening to fight inflation. At 8:50 am, Singapore Exchange (SGX) Nifty futures -- an early indicator of the Nifty50 index -- were down 140 points or 0.8 percent to 17,881, having dropped as much as 161 points earlier in the day. News updates about the Russia-Ukraine war remained on investors' radar.

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