Mumbai: The Indian equity markets opened flat on Tuesday on the back of negative global cues and caution ahead of major global financial events.
Both the key indices traded on a flat-to-negative note during the early morning trade session, as selling pressure was witnessed in stocks of banking and consumer durables.
The wider 51-scrip Nifty of the National Stock Exchange (NSE) edged down 19.30 points or 0.22 per cent, to 8,789.10 points.
The barometer 30-scrip sensitive index (Sensex) of the BSE, which opened at 28,690.66 points, traded at 28,579.93 points (at 9.30 a.m.) -- down 54.57 points or 0.19 per cent from the previous close at 28,634.50 points.
The Sensex has so far touched a high of 28,698.81 points and a low of 28,579.93 points during the intra-day trade.
However, the BSE market breadth was tilted in favour of the bulls -- with 868 advances and 566 declines.
On Monday, the benchmark indices had ended on a flat-to-positive note, as fresh foreign fund inflows, higher crude oil prices and value buying kept the sentiments buoyed.
The barometer index had risen by 35.47 points or 0.12 per cent, while the NSE Nifty edged up by 28.55 points or 0.33 per cent.
Investors were cautious ahead of the US Fed's Federal Open Market Committee meet and the Bank of Japan (BoJ) monetary policy review announcements.