The Indian equity benchmark indices opened flat following mixed cues from the global markets. The Sensex opened 0.01 percent or 5 points lower at 57,892. The Nifty50 index opened marginally lower at 17,220 -- down 14 points or 0.08 percent.
The broader market indices were trading higher. Among the sectoral indices, Nifty FMCG, IT, metal, and consumer durables were under selling pressure.
Bluechips leading the gains on the Nifty50 index were IndusInd Bank, DRL, Cipla, ICICI Bank, and Sun Pharma. Leading the losses were Power Grid, NTPC, Coal India, Tata Steel, and Hindalco.
Globally, Asian shares slipped Wednesday, following a mixed Wall Street session as the region's investors positioned their portfolios for the new year and continued to grapple with increasing global numbers of Omicron coronavirus cases.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.25 percent, after six sessions of gains. There were losses in Hong Kong, down over half a percent while Chinese blue chips shed 0.25 percent. Japan's Nikkei slid over half a percent after hitting a one-month high Tuesday.
But in Australia, the ASX 200 was up 1 percent early in the session even though the country's most populous state New South Wales announced 11,201 new coronavirus cases.
Overnight, while the Dow Jones Industrial Average rose over 0.2 percent Tuedsay, tech-heavy Nasdaq declined half a percent. The S&P 500 hit a record intraday high during the session but weakened to end the day off 0.10 percent.
US crude oil ticked up 0.25 percent to $76.17 a barrel and the Brent crude rose to $79 per barrel. Gold was slightly lower. Spot gold was traded at $1,804.5631 per ounce.
(With inputs from Reuters)