Indian shares are set to open lower on Wednesday on the back of growth concerns after the International Monetary Fund lowered GDP outlook for India as well as the global economy. Investors are also cautious ahead of the March-quarter earnings beginning later week, with IT majors Tata Consultancy Services (TCS) and Infosys reporting their Q4 numbers on April 12. At 07:19 AM, the SGX Nifty, an early indicator of the Nifty 50's trend in India, was down 0.29 at 11,715.50, indicating a weak start for the Sensex and Nifty.

Among stocks, Ashwani Gujral is bullish on banking stocks like Bank of India, Yes Bank, Bank of Baroda, ICICI Bank and Canara Bank. Meanwhile, Sudarshan Sukhani has a buy call for M&M, Divi's Labs and United Spirits and sell call on MCX India and NMDC.

Telecom giant Vodafone Idea on Tuesday said its Rs 25,000-crore rights issue will open on Wednesday.

The rupee opened marginally lower against the greenback on Wednesday but advanced soon after in trade, tracking muted trends in global currencies.