Indian stock market opened flat in the morning trade on the back of a decrease in consumer price index-linked (CPI) inflation but a subdued industrial output data.
On Wednesday, the Index of Industrial Production (IIP) for December contracted 0.6% y-o-y. However, the January CPI inflation stood at 8.79%, at 24-month low.
Experts feel markets are likely to remain volatile.
"Markets could remain volatile in a narrow range of plus / minus 25 points on Nifty throughout the session. Immediate support for Nifty is at 6060, while resistance is at 6125 level," HDFC Securities said in a note.
Among sectoral indices, BSE Bankex (-0.93%), BSE Oil & Gas (-1.09%) and BSE Consumer Durables (-0.70%) were the major losers. Among individual stocks, Cipla (-5.39%),Coal India (-2.24%) and Oil & Natural Gas Corpn (-1.63%) were the major losers.
Cipla on Wednesday reported 17% year-on-year fall in consolidated net profit to Rs 284 crore for the quarter ended December.
Among Asian indices, the Nikkei (-1.58%), Hang Seng (-0.26%) and Kospi (-0.03%) were trading in the red.