Weak global cues keep equity indices flat; banking stocks fall

Mumbai: Amid choppy trade, the key Indian equity indices traded on a flat note during the afternoon session of the trade on Tuesday after global markets reacted negatively to reports of fresh US tariffs announced on Chinese imports.

Among the sectors, banking stocks witnessed heavy selling pressure, a day after the government proposed to merge the Bank of Baroda, Vijaya Bank and Dena Bank. The other major losing sectors were metal and auto.

At 1.36 p.m., the Nifty50 on the National Stock Exchange traded at 11,367.35 points, lower by 10.40 points or 0.09 per cent from the previous close.

The BSE Sensex, which had opened at 37,660.19 points, traded at 37,587.56 points, higher by just 2.05 points or 0.01 per cent from the previous close of 37,585.51 points.

So far, it has touched an intra-day high of 37,745.44 points and a low of 37,465.68 points.

The top gainers on the Sensex were Hindustan Unilever, Yes Bank, ONGC, Adani Ports, and Mahindra and Mahindra, while the major losers so far were State Bank of India, Tata Motors, Tata Motors (DVR), Bajaj Auto and Coal India.