Mumbai: Selling pressure in IT, banking and tech stocks, coupled with broadly negative global cues, led the key Indian equity indices to trade on a flat-to-negative note during the mid-afternoon session on Monday.
ICICI Bank, Cipla, State Bank of India (SBI) and Infosys were among the top laggards on the BSE market breadth.
Around 12.45 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded lower by 3.25 points or 0.03 per cent at 10,280.35 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 33,365.84 points, traded at 33,332.69 points — down 10.11 points or 0.03 per cent — from Friday’s close.
The Sensex has so far touched a high of 33,449.53 points and a low of 33,288.21 points during intra-day trade.
However, the BSE market breadth was bullish — 1,545 advances and 947 declines.
On Friday, the benchmark indices closed in the green riding on a sovereign ratings upgrade of the Indian government’s bonds by US credit rating agency Moody’s.
The NSE Nifty50 rose by 68.85 points, or 0.67 per cent, to close at 10,283.60 points, while the BSE Sensex closed at 33,342.80 points — up 235.98 points or 0.71 per cent.