The Indian equity benchmark indices opened flat on Wednesday following mixed trading in the global markets. The Sensex opened 0.12 percent or 70 points higher at 59,925. Nifty50 index opened higher at 17,822 -- up 17 points or 0.1 percent.

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The broader market indices were trading higher. Among sectors, IT, FMCG, media, pharma, and realty indices were under selling pressure, and auto, financial, and oil and gas indices were in the green.

Bluechips leading the gains on the Nifty50 index were Bajaj Finance, UltraTech Cement, Bajaj Finserv, IOC, and ICICI Bank. Leading the losses were IT stocks, HCL Tech, Tech Mahindra, Infosys, Wipro, and TCS.

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Elsewhere, Asian stocks slipped following a mixed Wall Street session as higher US Treasury yields weighed on global tech firms and pushed the dollar to a five-year high against Japan's yen. US yields rose Tuesday as bond investors geared up for interest rate hikes from the Federal Reserve by mid-year to curb stubbornly high inflation.

MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.8 percent, while Japan's Nikkei was little changed. US stock futures also slipped with S&P 500 e-minis down 0.25 percent and Nasdaq e-minis losing 0.4 percent.

US shares closed mixed Tuesday with the tech-heavy Nasdaq losing over 1 percent, though rising yields boosted banks and industrial names helped the Dow Jones Industrial Average to a record closing high and the S&P 500 to touch an all-time intraday high.

Oil prices drifted down on Wednesday, giving up some of the previous session's gains. Brent crude futures fell 0.3 percent, to $79.73 a barrel after hitting a high of $80.26. The US West Texas Intermediate (WTI) crude futures lost 0.3 percent to $76.75 a barrel. Spot gold was at $1,814 an ounce, steady on the day and at the upper end of its recent range.

(With inputs from Reuters)

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First Published:Jan 5, 2022 9:52 AM IST