Benchmark indices opened the day flat after a spectacular rally on Tuesday with most Asian markets subdued.
The Sensex was trading with losses of 18 points, while the Nifty was down 11 points in trade. Early from the Nifty were Bhel, Sun Pharma and Tata Motors.
Infosys was the top Nifty loser in trade after a margins warning by the company. Worries over new visa rules in the US saw most of the IT stocks trading lower. ITC continued to rally and was the top Nifty gainer.
Shares in Pipavav Defense were up after the Reserve Bank of India allowed foreign investors to raise their investment in the company.
Midcap stocks were trading marginally higher with the index seeing gains. Notable winners from the space were GMR Infra and Wockhardt.
Persistent Systems was trading higher after the company announced the acquisition of the Digital business of the US-based Akumina.
Meanwhile, markets across Asia were trading flat to negative. Investors will likely await the Minutes of the Fed Meeting due later today for cues on rate hikes in the US.