The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading around 23,838 level, a premium of nearly 53 points from the Nifty futures’ previous close.

The stock market opened flat as trading began on Wednesday. It had rallied right around its previous close. At 9:20 am, the benchmark BSE Sensex was down by 12.50 points or 0.02%, reaching 78,571.31.

Benchmark equity indices opened flat on Wednesday, as gains in HDFC Bank, Infosys, and NTPC were balanced by declines in Asian Paints and Reliance Industries. Investors remained cautious ahead of the Reserve Bank of India's three-day monetary policy meeting,