Sensex flat; foreign investors extend sales

The Sensex is flat and the Nifty is up 0.29 percent. Global cues are more positive with Asian equities drawing support after Alcoa reported a higher quarterly profit, signalling a positive start to the U.S. quarterly earnings season.

Cairn India gains 2.82 percent after the company announces an oil discovery in the Rajasthan block in northwest India.

ICICI Bank up 1.6 percent after Morgan Stanley upgrades the stock to "overweight" from "equal-weight", citing an expected pick-up in consumer loan growth.

Wipro traded down 9.5 percent in the first trading session after splitting non-IT business into a separate unit.

Foreign funds continue to be net sellers in Indian equities, having sold $30.03 million of equities on Monday, a fourth consecutive session of selling.

Copyright Thomson Reuters 2013