Key indices on Wednesday open flat over release of macro economic data. According to the data released by the Central Statistics Office on Tuesday, the industrial output has gone up by 1.2% in July from a year earlier.
Factory output, measured in terms of Index of Industrial Production, the cumulative growth for the period April-July this year stood at 1.7% on y-o-y basis.
At 9:18 am, the S&P BSE Sensex was trading at 32,150, down 8 points, while the broader Nifty50 was at 10,088, down 5 points.
Meanwhile, Asian markets surged up to a 10-year high over record highs on Wall Street, while the dollar’s rise against the yen helped boost Japanese shares.
MSCI's broadest index of Asia-Pacific shares outside Japan was slightly lower, after earlier poking up to its highest level since October 2007. Australian shares added 0.2 percent, while Korean shares were 0.1 percent higher.
On Tuesday, the S&P 500, Dow Jones industrials and Nasdaq Composite all marked record finishes as investors' concerns faded about North Korean tensions as well as the impact of Hurricane Irma.
"In the U.S. we had a bit of unwinding of the fear trade that it's been going through and that's flowing through to us as well," said Mathan Somasundaram, a market portfolio strategist with Blue Ocean Equities in Sydney.
(With inputs from agencies)
