* The BSE index and the NSE index trading flat
as of 0446 GMT.
* Interest rate-sensitive stocks fall, with Tata Motors Ltd
down 2.3 percent and ICICI Bank down 0.9
percent, after the central bank chief was reported by media as
saying inflation was "still quite high", denting hopes of a 50
basis points rate cut this month.
* "It is a decline from the peak, but it is still quite high,"
Subbarao was quoted by Dow Jones Newswires as saying about the
December data in an address to management students in the
northern city of Lucknow on Tuesday.
* Shares of software services exporters fall on profit-booking
after stronger-than-expected earnings boosted the shares in
* Infosys Ltd fall 0.5 percent and Tata Consultancy
Services is down 1.3 percent.