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The market has opened on a flat note following mixed global cues. The Sensex fell 16.03 points to 27348.89 and the Nifty declined 5.95 points to 8269.10. Lupin, Dr Reddy's Labs, TCS, Wipro, HDFC Bank, UltraTech Cement, BPCL and Asian Paints were early gainers, up 0.5-1.5 percent. ONGC, Vedanta, Bharti Airtel, Hero Motocorp, Tata Steel, ACC and Hindalco declined 0.6-1 percent.

Domestic investor continued to be net sellers of equities and on Monday they have sold shares worth Rs 246.26 crore.Second quarter earnings of major blue-chip companies like Hero MotoCorp and ACC are likely to dictate the direction of Sensex and Nifty.