Indian stock markets opened slightly lower on Wednesday, following weak cues from Wall Street and losses in Asian markets. Investors booked profits after recent market gains, leading to a narrow trading range for Sensex and Nifty. Traders are closely watching the release of minutes from the U.S. Federal Reserve's last meeting and a speech by Fed Chair Jerome Powell at the Jackson Hole Economic Symposium, anticipating insights into potential interest rate cuts in the U.S. this year. 

Currently, the Sensex is down by 117.42 points, or 0.15%, trading at 80,685.44. The market is under pressure due to selling in Realty and Banking stocks, though the downside is limited by optimism over India's long-term economic growth. The IMF's Krishnamurthy V Subramanian stated that India's economy could grow to $55 trillion by 2047 if the country maintains an 8% growth rate and 5% inflation.

Sector-wise, mining stocks are in focus as a recent Supreme Court ruling on royalties and taxes is expected to negatively impact major companies like Tata Steel, UltraTech Cement, and Vedanta. Meanwhile, shares of PNB Housing Finance surged following a stake sale by General Atlantic.

The broader indices are showing positive momentum, with the BSE Midcap index up by 0.15% and the Smallcap index gaining 0.47%. Among sectoral gainers, FMCG rose 0.60%, while Realty and Banking indices were among the top losers. 

On the Nifty, Divi's Laboratories and Dr. Reddy's Laboratories are among the top gainers, while UltraTech Cement and banking stocks such as Kotak Mahindra and IndusInd Bank are facing losses.

In other developments, Union Minister Dharmendra Pradhan has stressed the importance of boosting exports from eastern India, particularly in non-mineral sectors like food processing, marine products, and IT. He emphasized the need for cooperation between the central and state governments to ensure sustained industrial growth and job creation in the region.

Asian markets were mostly in red, with Taiwan, Hong Kong, and Japan leading the declines, though Indonesia and South Korea posted minor gains.