Global cues, results subdues markets; Sensex down 45 points

Receding Chinese markets and caution over the ongoing quarterly results, coupled with profit bookings, led a barometer index of the Indian equities markets to trade flat during the mid-afternoon session on Wednesday.

Initially, both the bellwether indices opened higher on the back of lowered chances of a US rate hike and some better-than-expected quarterly results.

However, both the bellwether indices ceded their initial gains, as investors were seen reluctant to chase higher prices.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) traded flat during the session under review. It was lower by 19.45 points or 0.24 percent at 8,242.20 points.

The barometer 30-scrip sensitive index (S&P Sensex) of the Bombay Stock Exchange (BSE), which opened at 27,312.35 points, was trading at 27,262.22 points (at 1.30 p.m.) -- 44.61 points or 0.16 percent lower from its previous close at 27,306.83 points.

The Sensex has so far touched a high of 27,445.24 points and a low of 27,190.55 points during the intra-day trade.

The barometer index closed 58.09 points or 0.21 percent lower on Tuesday, the previous trading session.