Amid neutral global cues, the Indian market opened on a flat note ahead of the three-day Reserve Bank of India’s monetary policy committee (MPC) meeting, which starts today (Wednesday). The benchmarks Nifty 50 and Sensex started the fresh session at 17,349.25 and 58,174.11 respectively.
In the broader market, Nifty Midcap opened flat with negative bias, while the Smallcap index gained almost half per cent in the opening trade.
Among sectoral indices, auto and consumer durables attracted some profit booking , while others traded flat or with marginal gains.
In the pre-open session, the Sensex was seen trading with a marginal gain as 16 stocks advanced and 14 declined on the 30-share index. Nifty Metal and Oil & Gas were the top gainers among sectoral indices.
Earlier, SGX Nifty traded higher by over 50 points on the Singaporean Exchange, Japanese Nikkei 225 rose 0.6%, while Hang Seng Index at the Hong Kong Exchange and Chinese Shanghai Composite gained nearly 0.2% and 0.3% respectively in early trade on Wednesday.
On Tuesday, the US market closed lower amid escalating tension with China. Dow Jones fell over 400 points, Nasdaq dropped 22 points and S&P 500 ended lower by 27 points on Tuesday.