Indian stock market, May 28 -- Both Indian indices - Sensex and Nifty - is likely to open in red on Wednesday despite market rally in global markets after U.S. President Donald Trump extended the deadline for a 50% tariff on European Union imports until July 9.

Asian markets saw a significant rally on Wednesday after Wall Street extended gains on investor optimism.

On Tuesday, the Indian stock market ended the day in red on heavy profit booking in large-caps and engaged in selective buying in the mid- and small-cap segments by investors.

The Sensex closed 625 points, or 0.76%, lower at 81,551.63, while the Nifty 50 declined by 175 points, or 0.70%, to finish at 24,826.20.

'The Indian equity market witnessed a volatile session on May 2...