Benchmark stock market indices opened flat on Tuesday as higher volatility keeps the bulls in check on Dalal Street.

The S&P BSE Sensex opened 136.83 points higher at 60,829.37 at 9:30 am, while the NSE Nifty 50 went up marginally by 38.70 points to 17,883.30. Broader markets were also trading mixed as sentiment remained weak.

Banking stocks were struggling in early trade as stocks such as Axis Bank, IndusInd Bank, ICICI Bank and Kotak Mahindra Bank fell. Adani Enterprises was the top loser on the Nifty 50 index, down over 1.3 per cent.

On the other hand, Adani Ports and Special Economic Zone was the top gainer on the Nifty 50 index, rising 1.60 per cent after the company decided to prepay loans worth Rs 1,000 crore.

Other stocks that gained in early trade were Cipla, JSW Steel, NTPC and Hindustan Unilever.

Domestic shares have fallen over the past few trading sessions due to weaker global cues, following projections that the US Federal Reserve may continue with the high interest rate regime. This could have a ripple effect on other economies across the world, including India.

Meanwhile, foreign institutional investors (FIIs) have now extended their selling streak for the second day on Monday, offloading Rs 159 crore worth of equities on a net basis.