Sensex, Nifty trade flat after slowdown in Q4 GDP growth; Smallcap up 1%

The benchmark indices were moving on a flatline on Thursday after the gross domestic product (GDP) data showed growth declined to 6.1% in the January-March quarter, with India losing the tag of being the world's fastest growing major economy to China.

At 12:02 pm, the S&P BSE Sensex was trading at 31,155, up 10 points, while the broader Nifty50 was ruling at 9,616, down 5 points. 

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices outperformed to gain 0.5% and 0.9%, respectively.

"We expect the consolidation to continue as the market has now entered a