Market opens flat on mixed global cues

Markets opened flat tracking mixed global cues. Meanwhile, world markets were dragged down by the worsening crisis in Ukraine a day earlier. According to reports, Russia's Black Sea Fleet has given an ultimatum to Ukrainian forces in Crimea to surrender failing which they would  face a military assault.

The 30-share BSE Sensex was up 39 points at 20,967 levels while 50-share NSE Nifty edged 4 points higher at 6224 in opening trades.

ICICI Bank, Reliance, HDFC, ITC and Tata Motors are the leading Sensex stocks at this hour.

US stocks tumbled on Monday alongside other risky assets globally as tensions in Ukraine and Russia escalated after Russian President Vladimir Putin declared he had the right to invade his neighbor.

News that Ukraine mobilized for war on Sunday and Washington threatened to isolate Russia economically overshadowed better-than-expected U.S. data, including an index showing that factory activity rebounded from an eight-month low in February.

Asian shares were on the defensive on Tuesday as tensions over Ukraine showed no sign of abating, with Russia tightening its grip on Crimea while the West sought measures to deter Moscow.

Nikkei futures in Chicago pointed to a fall of about 0.4% in Tokyo shares following a 1.3% fall on Monday, while MSCI's broadest index of Asia-Pacific shares outside Japan sagged 0.1%.

As investors flocked to safe assets for fear of further escalation in geopolitical tensions, gold stood near a four-month high while the yield on US Treasuries yield dropped to a one-month low, reflecting higher prices for the bon