Markets open flat; Tata Motors up over 1%

Markets opened flat on Wednesday with Tata Motors leading the gains in early trades along with select index heavyweights.

At 9:19AM, the 30-share Sensex was up 6 points at 28,450 and the 50-share Nifty was up 4 points at 8,529.

HSBC India Services PMI for November 2014 is due on Wednesday. Adjusted for seasonal factors, the headline HSBC India Services PMI Business Activity Index fell to 50 in October, from 51.6 in September.

Meanwhile, foreign institutional investors were net buyers in Indian equities worth Rs 107 crore on Tuesday, as per provisional stock exchange data.

Asian markets have gained on a rebound in crude oil prices. Japan's Nikkei share average rose to a more than seven-year high on Wednesday as the dollar hit a fresh seven-year high against the yen. Nikkei is trading with more than 1% of gains. Chinese shares are gaining in opening deals. Shanghai Composite and Hang Seng indices are gaining 1.7% and 0.5% each.

Led by gains in energy and auto shares, the Dow Jones industrial average closed at a record high with a 0.5% gain. The S&P 500 and Nasdaq Composite gained 0.6% each.

ICICI Bank was down 0.1% as the stock turns ex-stock split tomorrow.

Tata Motors was the top Sensex gainer up 1.2% on news that its prized acquisition Jaguar Land Rover has started to build a plant in Brazil.

Tata Motors

ICICI Bank