Markets open flat, Nifty holds on to 10,900

New Delhi: Markets opened on a flat note on Tuesday though the NSE Nifty still held on to 10,900.

Investors will be keeping an eye on the Reserve Bank of India`s (RBI) bi-monthly monetary policy announcement scheduled for Thursday.

The rupee appreciated by 13 paise to 71.67 against the US dollar in opening trade Tuesday, driven by positive opening in domestic equities and weakening of the greenback in overseas markets.

Recent US data and the Federal Reserve`s dovish turn kept lifting Asian stocks early on Tuesday, a Reuters report said.

Japan`s Nikkei rose 0.4 percent before erasing gains while MSCI`s broadest index of Asia-Pacific shares outside Japan advanced 0.3 percent. Australian shares jumped 1.95 percent.

Elsewhere in Asia, trade was light, with markets in greater China, South Korea, Singapore and Indonesia are all closed for the Lunar New Year.

With Agency Inputs