Indian equity benchmarks opened flat on Wednesday as investors balanced positive global cues against domestic policy uncertainty.
The Nifty 50 traded sideways at the start of the session, reflecting a cautious stance ahead of the Reserve Bank of India's monetary policy announcement.
The subdued domestic start was offset by a sharp decline in crude oil prices and record-setting gains on Wall Street overnight.
Lower energy costs typically ease inflationary pressures in India, a net importer of oil, while the positive sentiment from US markets provided external support for emerging market equities.
The Reserve Bank of India's policy decision remains the focal point for domestic traders.
Markets are closely watching for signals on interest rates and inflation guidance, which could dictate the direction of Indian equities and the rupee in the coming sessions.