BSE Sensex index is down 0.04 percent, while the broader NSE Nifty index is lower 0.06 percent as caution ahead of the expiry of June derivatives on Thursday and concerns around Iraq cancel out the impact of buying by foreign investors.
Asian shares were on the back foot early on Wednesday, taking their cue from Wall Street as the deepening crisis in Iraq and a report that the United States could be easing restrictions on crude exports triggered a rally in oil prices.
Shares of Infosys Ltd rise 0.6 percent, while Reliance Industries Ltd is down 0.5 percent.
Reliance Communications Ltd falls 2 percent after raising 48 billion rupees ($804 million) in its share sale that was announced on Tuesday, as the telecommunications company looks to cut debt.
Overseas investors bought Indian cash shares worth 2.84 billion rupees and 9.54 billion rupees in index futures and options on Tuesday, exchange data shows.
BSE Sensex up 59 points in early trade
(PTI) The benchmark BSE Sensex rose about 59 points in early trade today on increased buying by funds and retail investors amid a mixed trend in other Asian markets.
The 30-share index moved up by 58.90 points, or 0.23 per cent, to 25,427.80 with stocks of power, metals, IT, PSUs, capital goods and realty sectors, leading the gains.
The index had gained 337.58 points in the previous session as fall in global crude oil prices eased inflation concerns.
Similarly, the NSE index Nifty was up by 5.25 points, or 0.07 per cent, to 7,585.45.
Brokers said buying by funds and retail investors and covering-up of pending short positions by speculators ahead of tomorrow's monthly expiry in the derivatives segment, led to the rise in stock prices.
Among other Asian markets, Hong Kong's Hang Seng index rose 0.24 per cent, while Japan's Nikkei was down 0.51 per cent in early trade today.
The US Dow Jones Industrial Average ended 0.70 per cent down in yesterday's trade.
BSE Sensex seen opening flat tracking weaker global stocks; Reliance Communications eyed
(Reuters) BSE Sensex set to open flat on Wednesday, tracking falls in global stocks as crude held above $114 a barrel on Tuesday, supported by continued fighting in Iraq.
NSE Nifty index futures traded on the Singapore Exchange flat, while the MSCI-Asia Pacific excluding Japan index falls 0.3 percent.
Asian shares were on the