The Sensex and the Nifty opened the day flat ahead of the crucial Budget session of parliament, which will begin with the passage of the land acquisition bill.
Reliance continued to show a weakish trend and was down for the third straight day. Other stocks that were weak in trade included stocks like Sesa Sterlite and Jindal Steel.
Jubilant Life was in the limelight after Jubilant Generics got a US FDA nod for Cetirizine hydrochloride.
Banking stocks were heading lower with PSU banking stocks seeing large scale selling pressure. Among the losers in trade were Bank of Baroda, Punjab National Bank and State Bank of India. Yes Bank was marginally up ahead of the stock being included in the Nifty from next year.
Meanwhile, markets in Asia were trading higher led by gains in the Japanese Nikkei and the Singapore's Strait Times.