Markets open flat on global cues

Markets have opened on a flat note on the back of weak global and domestic cues. The Sensex is up 38 points at 16331. Nifty is up 10 points at 4,939. Inflation numbers for April 2012 due later today will also impact sentiment.
China has cut the amount of cash that banks must set aside as reserves for the third time in six months, pumping money into the financial system to support lending. Reserve ratios will fall 50 basis points, effective May 18, the People's Bank of China said.
Asian shares eased on Monday as investors saw more reasons to cut risk after talks in Greece to form a new government failed. MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1%, while Japan's Nikkei share average opened up 0.4%.
Banking, healthcare and auto shares have managed to open in the green this morning. Mid-cap shares are also trading flat.