The Sensex and the Nifty opened the day flat and managed to trade between negative and positive, despite global cues remaining relatively strong.
The Sensex was trading with losses of 8 points, while the Nifty was down 6 points in trade. Leading the set of losers from the Nifty and the Sensex were stocks like Tata Motors, Hindustan Unilever, Tata Consultancy Services, Sun Pharma and State Bank of India.
Zen Tech was trading higher after the Reserve Bank of India removed the company from the FII ban list.
Bharti Infratel fell after the company said that Sanjay Nayar had resigned as Non Executive Director. Mid cap stocks also lost some momentum with Voltas and Crompton Greaves among the major losers in trade.
Meanwhile, Asian markets were trading higher despite weak overseas closings in the US. The Shanghai Composite, the Hong Kong's Hang Sang and the Japanese Nikkei were all higher in trade.