Sensex, Nifty Trade Flat Amid Volatility; Infosys, Hindalco, Tata Steel Drag: Midday Market Update

As of 1:54 p.m., Sensex was down 81 points or 0.14% at 57,457.10 while the Nifty was 19 points or 0.11% lower at 16,954.70.

<div class="paragraphs"><p>A photograph taken outside the NSE Building in Mumbai. (Source: BQ Prime)</p></div>
A photograph taken outside the NSE Building in Mumbai. (Source: BQ Prime)

India's benchmark stock indices were trading flat amid volatility through midday trade on Thursday.

Volatility persisted as Asian stocks pared losses while European and U.S. equity futures advanced and treasuries fell on Thursday after Credit Suisse Group AG said it would borrow money from Switzerland’s central bank and seek to repurchase debt.

At 1:54 p.m., the S&P BSE Sensex fell 81 points, or 0.14%, to 57,457.10, while the NSE Nifty 50 declined 19 points, or 0.11%, to 16,954.70.

Bharat Petroleum Corporation Ltd., HDFC Bank Ltd., Titan Co., Asian Paints Ltd., Hindustan Unilever Ltd. were the top laggards among the Nifty 50.

Whereas, Infosys Ltd., Hindalco Industries Ltd., Tata Steel Ltd., JSW Steel Ltd., IndusInd Bank Ltd., ICICI Bank Ltd. gained.

Adani Group stocks were mixed with Adani Green Energy Ltd., Adani Ports and Special Economic Zone Ltd., Adani Enterprises Ltd., Adani Transmission Ltd., Ambuja Cements Ltd., ACC Ltd., and Adani Wilmar Ltd. advanced, while the others declined.

The broader market indices traded lower, with the S&P BSE MidCap falling 0.10% and the S&P BSE SmallCap declining 0.63% by midday session.

Nine out of the 20 sectors compiled by BSE Ltd. declined declined, while 11 advanced.

The market breadth was skewed in the favour of the sellers. About 1,215 stocks rose 2,206 declined, and 120 remained unchanged on the BSE.