Equities flat in choppy session, Sun Pharma loses by 3.8 pc

Equity benchmark indices were flat in a choppy trading session during early hours on Wednesday tracking subdued global cues.

At 10:15 am, the BSE S & P Sensex was up by 50 points at 36,613 while the Nifty 50 edged lower by 11 points to 10,809.

At the National Stock Exchange, sectoral indices were mixed. Nifty pharma was down by 1.4 per cent. Auto, financial services, banks, media and realty too were in the red while FMCG, IT and metal witnessed marginal gains.

Traders said that due to lack of major domestic triggers, the market could be largely driven by global trends.

Among stocks, Sun Pharma slipped by 3.8 per cent to Rs 422.30 per share while IndusInd Bank was down by 2.5 per cent. Zee Entertainment, Tata Motors, Titan, Eicher Motors, Maruti and Reliance Industries showed some losses.

However, Bharti Infratel gained by 1.5 per cent while Vedanta was up by 1.4 per cent. State Bank of India, Indian Oil Corporation and Bharti Airtel showed marginal gains.

Meanwhile, Asian stocks bounced led by Chinese markets after a report showed growth in the country's service sector accelerating despite broader economic headwinds.

The Shanghai Composite Index added 0.45 per cent while MSCI's index of Asia-Pacific shares outside Japan gained 0.5 per cent. But sentiment in the wider region remained subdued amid worries about a global recession.

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