The Indian equity benchmark indices opened flat on Wednesday following a mixed trend in global peers.
At 9:15 am, the Sensex opened 0.02 percent, or 9.16 points higher at 52,782.21, while the Nifty50 index opened at 15,847.50, up 21.75 points, or 0.14 percent.
Broader markets traded mixed, with Nifty Smallcap100 up 0.33 percent and Nifty Midcap100 index down 0.15 percent.
Among sectoral indices, gains were seen in FMCG, IT and realty stocks, while the Nifty Metal, Nifty PSU Bank, Nifty Pharma and Nifty Financial Services traded lower in the early morning session.
ONGC, Tata Consumer Products, Wipro, Bajaj Finserv and Mahindra & Mahindra were the Nifty50 top gainers, while Adani Ports & SEZ, Hindalco Industries, Dr Reddy's Laboratories, Asian Paints and PowerGrid Corporation were the top index losers.
The share price of LIC Housing Finance fell over 2 percent after the company’s Q4FY21 standalone profit declined 5 percent YoY to Rs 398.92 crore from Rs 421.43 crore. Revenue however rose to Rs 4,967.69 crore from Rs 4,920.17 crore, YoY.
Globally, Asian shares were subdued on Wednesday with investors wary of any hint of hawkishness from the US Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money, said a Reuters report.
MSCI’s broadest index of Asia-Pacific shares outside Japan barely moved, while Chinese blue chips dipped 0.3 percent. Japan’s Nikkei eased 0.2 percent, but South Korean stocks rose 0.6 percent to a record high after five months of effort.