India's stock benchmarks open flat as gains in HDFC Bank offset broader losses
India's equity benchmarks opened flat on Wednesday, as gains in top private lender HDFC Bank offset broad losses after data showed an uptick in U.S. inflation.
The Nifty 50 
NIFTY was down 0.14% at 25,160.5 points, while the BSE Sensex 
SENSEX lost 0.11% to 82,479.24, as of 9:19 a.m. IST.
Eight of the 13 major sectors declined. High weightage financials 
CNXFINANCE rose 0.2%, led by 1.2% rise in HDFC Bank 
HDFCBANK after the lender said it will consider issuing bonus shares at a board meeting on July 19.
Other Asian markets were little changed, with the MSCI Asia ex Japan index (.MIAPJ0000PUS) trading flat. Wall Street equities traded mostly lower, while U.S. Treasury yields hit the highest in more than a month as investors digested a slight rise in U.S. inflation.
Higher U.S. Treasury yields are negative for flows into emerging markets such as India.
Metals CCNXMETAL fell 0.5%, topping sectoral losses by percentage, dragged by a stronger dollar, which makes the commodities costlier for holders of other currencies.
($1 = 85.9580 Indian rupees)
