Opening Bell: Tata Motors, Bajaj Finance, JSW Steel help Nifty regains 15,750

In the broader markets, the BSE MidCap and SmallCap indices, however, opened in the positive territory, rising up to 0.6 percent.

Amid sectoral indices, Nifty Media, Auto indices led gains, rising up to 1 percent. Nifty IT, and pharma were other gainers. While Nifty metals shed a percent. FMCG and oil & gas pockets were also subdued.

Network18 shares were up 2 percent after Viacom18 won the non-exclusive digital rights for 18 matches of the Indian Premier League (IPL) during the media rights auction that began on June 12 and concluded on June 14.

Hindustan Unilever was trading over 1 percent lower after LIC said it's shareholding in company has increased from 11,73,80,500 to 11,76,90,500 equity shares, aggregating to 5 percent of the paid-up capital of the company.

Gold prices on Wednesday were lifted from near one-month lows by weaker Treasury yields, ahead of a potentially aggressive interest rate hike from the US Federal Reserve as it seeks to combat inflation amid mounting fears of an impending recession.

Spot gold was up 0.5 percent at $1,817.12 per ounce as of 0229 GMT, after dropping to its lowest since May 16 at $1,803.90 on Tuesday.

Oil prices fell on Wednesday on worries over fuel demand ahead of a US Federal Reserve meeting. WTI crude futures fell 8 cents, or 0.1 percent, to $118.85 a barrel by 0008 GMT. Brent crude futures fell 26 cents, or 0.2 percent, to $120.91 a barrel.

Copper is trading at a 4-week low, aluminium is at a 6-month low and coal prices have come below $400 per tonne.

Asian markets were in a pensive mood on Wednesday as shell-shocked investors waited to see just how aggressive the Federal Reserve would be on rates, with many fearing drastic action would risk tipping the world into recession. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.2 percent, but is down sharply on the week. Japan's Nikkei lost 0.6 percent.

US equities witnessed a minor fall on Tuesday. The Dow Jones Industrial Average index slipped 0.5 percent on Tuesday. S&P 500 declined 0.38 percent while the tech-heavy Nasdaq index rose 0.18 percent.