Markets open flat on discouraging global cues

New Delhi: The key Indian equity indices opened on a flat-to-negative note on WednesdaY on heavy selling in metals, realty energy and auto stocks.

The 30-share index dropped 52.09 points or 0.15 percent to 34,599.15. The gauge had gained 35.11 points in the previous session.

In similar fashion, the NSE Nifty fell 22.00 points, or 0.21 percent to 10,514.70.

Sectoral indices led by metal, realty, oil and gas and auto were trading in the negative zone, falling up to 1.29 percent.

Major losers were Kotak Bank, HDFC Bank, Maruti, Bajaj Auto, HDFC, Asian Paint, Heromoto corp, M&M, Adani Ports, IndusInd bank, Dr Reddy, and Tata steel, falling up to 2.69 percent.

The rupee declined 25 paise to hit a fresh 16-month low of 68.29 per dollar in early trade today ahead of the minutes of US Federal Reserve's last policy meet scheduled to be released later in the day.

Asia-Pacific shares outside Japan was down 0.2 percent, while Japan`s Nikkei lost as much as 1.4 percent to hit a 1-1/2-week low and the Shanghai Composite Index retreated 0.6 percent.

On Wall Street, the S&P 500 shed 0.31 percent overnight, losing steam after hitting a two-month high.

With Agency Inputs