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Also, a meeting of the board of directors of Commercial Syn Bags is scheduled to consider and approve the allotment of 2,66,34,800 new equity shares of Rs 10 each to existing shareholders in the proportion of 2:1.

​​Continued domestic flows helped cushion the Indian markets from the impact of foreign selling in the first half of the year. China, Korea, Germany, France and the UK declined between 2% and 17% since October 19, last year, while the Nifty gained 1.4% in this period.

"The Nifty IT index has given a fresh breakout from the consolidation range of 26,200-30,200 level, and the first upside target for this breakout is at 34,200 level," said Arpan Shah, technical analyst, Monarch Networth. "Any dip is a strong buying opportunity in some of the stocks like Infy, Persistent, and Saksoft."

Tata Consultancy Services has launched the TCS Quantum Computing Lab on Amazon Web Services to help enterprises explore, develop, and test business solutions and accelerate the adoption of quantum computing.

The panel will have to advise the regulator on simplifying and strengthening the current norms by adopting appropriate global practices. The committee, which has representatives from stock exchanges and law firms, would also have to suggest measures to facilitate ease of doing business.

Nifty futures on the Singapore Exchange traded 75 points or 0.44 points lower at 7.15 am, signalling a negative start for Dalal Street.

The company had originally defaulted on its loans in April 2014 and later the lender approached the Debt Recovery Tribunal (DRT) against the company in June 2015.

In a separate release, the RBI said a penalty of Rs 20 lakh has been imposed on Indian Mercantile Co-operative Bank, Lucknow for non-compliance with the certain norms related classification of non-performing assets.

Brent crude dropped by $1.32, or 1.6%, to trade at $82.31 a barrel at 10:48 a.m. ET (1548 GMT), having slumped more than 3% to $80.61 earlier in the session for its lowest since Jan. 4.

Her comments, along with remarks by Dutch central bank chief Klaas Knot earlier, were likely to dampen speculation that the ECB was about to take a gentler path with future rate increases.