Markets open flat as RBI decision looms

New Delhi: Stock market opened flat ahead of the RBI's bi-monthly policy meet outcome due later in the day.

The 30-share index was trading up 47.05 points, or 0.13 percent, to 34,950.26 in early trade. It had lost 419.17 points in the previous three sessions. The NSE Nifty also went up by 12.20 points, or 0.12  percent, to 10,605.35.

Investors were seen raising their bets ahead of the monetary policy announcement.

Shares of Bharti Airtel, Power Grid, Coal India, Sun Pharma, L&T, Wipro, Infosys, NTPC, Adani Ports, ONGC, ITC and Hero Moto Corp climbed up to 1.61 percent.

Meanwhile, domestic institutional investors (DIIs) bought shares worth a net Rs 474.33 crore, while foreign portfolio investors (FPIs) sold shares worth Rs 157.51 crore yesterday, as per provisional data.

MSCI`s broadest index of Asia-Pacific shares outside Japan  rose 0.1 percent, while Japan`s Nikkei  edged down 0.1 percent. Australian stocks rose 0.3 percent.

The Nasdaq closed at a record high for the second day in a row on Tuesday with help from the technology and consumer discretionary sectors amid an upbeat outlook for the U.S. economy. But the S&P 500 dipped, with the financial sector hit by lower Treasury yields, which can reduce banks` profits.

With Agency Inputs