The domestic stock markets have opened flat as strength in information technology stocks is being negated by selling pressure in select auto shares. At 9:18 am, the BSE Sensex is at 61,749, higher by 30 points and the NSE Nifty is at 18,413, down three points. In the broader markets, the BSE Midcap index and BSE Smallcap index are trading lower by 0.2 per cent each.
Overnight, U.S. stock indexes closed higher, with the biggest boost coming from the technology and healthcare sectors, as investors appeared to bet on solid quarterly reports. The Dow Jones rose 0.56 per cent, the S&P 500 gained 0.74 per cent and Nasdaq Composite added 0.71 per cent.
Asia-Pacific shares were mixed on Wednesday morning as China kept its benchmark lending rate unchanged. Japan's Nikkei 225 climbed 0.6 per cent and the Topix index edged higher by 0.55 per cent. South Korea's Kospi shed 0.13 per cent.
On the earnings front, Jubilant FoodWorks, Havells India, L&T Finance Holdings, Angel Broking and Asian Paints will announce their Q2 numbers during the day.
On the stock-specific front, Nestle, Asian Paints, Bharti Airtel and HCL Tech have gained 1-2 per cent each on the BSE. On the other hand, IndusInd Bank, Bajaj Finance and Bajaj Finserv have shed around a per cent each on the BSE.
The BSE market breadth is weak. Out of 2,841 shares traded on the BSE, there are 899 advancing shares as against 1826 declines.