The BSE Sensex is down 0.04 percent, while the Nifty is lower 0.06 percent as caution ahead of the expiry of June derivatives on Thursday and concerns around Iraq cancel out the impact of buying by foreign investors.
Asian shares were on the back foot early on Wednesday, taking their cue from Wall Street as the deepening crisis in Iraq and a report that the United States could be easing restrictions on crude exports triggered a rally in oil prices.
Shares of Infosys Ltd rise 0.6 percent, while Reliance Industries Ltd is down 0.5 percent.
Reliance Communications Ltd falls 2 percent after raising 48 billion rupees ($804 million) in its share sale that was announced on Tuesday, as the telecommunications company looks to cut debt.
Overseas investors bought shares worth 2.84 billion rupees and 9.54 billion rupees in index futures and options on Tuesday, exchange data shows.
