Sensex, Nifty Trade Flat: Midday Market Update

The Indian benchmark indices traded little changed through midday on Wednesday, following a day of selling on Tuesday.

Strong global cues, backed by no indication from Fed chair Jerome Powell on rate hikes, led the Asian markets higher in trade on Wednesday.

As of 12:05 pm, the S&P BSE Sensex was up 60 points, or 0.1%, at 60,175.04, while the NSE Nifty 50 was 2 points, or 0.01%, higher at 17,916.55.

BPCL Ltd., Hindalco Industries Ltd., HDFC Bank Ltd., Tata Consultancy Service Ltd., and JSW Steel Ltd. were the top gainers among the NSE Nifty 50 constituents.

Whereas, Bharti Airtel Ltd., Cipla Ltd., Apollo Hospitals Enterprise Ltd., Hindustan Unilever Ltd., and Eicher Motors Co. were the top losers in the gauge.

The broader market indices were mixed, with the BSE MidCap easing 0.25%, while the BSE SmallCap gained 0.27%.

Ten of the 20 sectoral indices compiled by BSE Ltd. declined, while the other ten advanced.

The market breadth was skewed in favour of the bulls. About 1,924 stocks rose, 1,369 declined, and 164 remained unchanged on the BSE.