Key equity markets trade flat during afternoon session

The key equity indices traded on a flat note on Wednesday afternoon following broadly negative global cues and heavy selling pressure in the oil and gas and banking sectors.

However, healthy buying in IT and Teck (Technology, media and entertainment) stocks limited the downslide of the key indices.

At 1.10 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 8.05 points or 0.08 per cent at 10,394.20 points.

The barometer 30-scrip Sensex of the BSE, which opened at 33,970.35 points, traded at 33,891.39 points -- up 11.14 points or 0.03 per cent from its previous session's close.

The Sensex has so far touched a high of 33,972.51 points and a low of 33,750.74 during the intra-day trade.

The BSE market breadth was bearish with 1,421 declines and 1,021 advances.

On Tuesday, hopes over easing of recent global trade protectionist measures aided the key Indian equity indices to close on a flat-to-positive note.

The Nifty50 ended the day's trade at 10,402.25 points, up 22.90 points or 0.22 per cent, while the Sensex closed at 33,880.25 points -- up 91.71 points or 0.27 per cent.

"Asian markets trading mix with a relief and hopes that trade tensions between the US and China could ease triggered un-volatile session for global equities," said Dhruv Desai, Director and Chief Operating Officer of Tradebulls.

Sun Pharma, TCS, Reliance, ONGC and Infosys were the top gainers on the BSE. Top losers were Adani Ports, State Bank of India, ICICI Bank, Yes Bank and Axis Bank.

On the NSE, Vedanta, HCL Technologies and Eicher Motors led the gainers, while Hindustan Petroleum, BPCL and Indian Oil Corporation were among the top losers.

--IANS

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