Indian shares open flat, Zee Entertainment jumps
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BENGALURU - Indian shares opened flat on Wednesday as gains in tech stocks countered losses in some banking stocks, while media giant Zee Entertainment soared after receiving board approval for its merger with Sony Pictures Networks India.
The blue-chip NSE Nifty 50 index was down 0.08% to 17,547.95 by 0400 GMT and the benchmark S&P BSE Sensex fell 0.06% to 58,969.54.
Investors awaited monetary policy cues from the U.S. Federal Reserve's two-day meeting ending later in the day.
Media stocks were the best performing sector, boosted by a 10% jump in Zee Entertainment.
Tech stocks rose 0.8%, with Mindtree Ltd jumping about 3%.
Private banks were down, with Housing Development Finance Corp shedding over 1% to be the biggest loser on the Nifty 50.
Broader Asian markets rose after debt-laden China Evergrande said it would pay some bond interest due on Thursday, allaying fears of an imminent and messy collapse.
(Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)
