Markets opened flat in trade today, as lack of enthusiasm to buy at higher levels in view of the large two-day run up in stock prices seem to have set in.
The BSE Sensex was trading 31 points higher at 17,633 points, while the Nifty was trading 10 points higher over Tuesday's close at 9.20 am IST. Among the shares that lost ground in trade today was Bharti Airtel, which lost more than 1%, following a disappointing set of results. Other losers included GAIL and Maruti Suzuki.
Among the major gainers in the Sensex stocks were Tata Steel, Tata Motors and Jindal Steel. In fact, Tata Motors has rallied substantially over the last few trading sessions and markets are awaiting numbers that the company will report on Thursday. State Bank of India also rallied almost 1%, ahead of its numbers that are to be declared on Friday.
Meanwhile, Asia was trading mixed, with the Hong Kong's Hang Sang and Singapore's Strait Times trading lower, while the Japanese Nikkei and the Taiwan Weighted were trading higher.
Markets are expected to track global cues and move in tandem. Indian indices have rallied sharply over the last few trading sessions in line with global markets, which have been buoyed by hopes of stimulus from the central banks across the globe.