Sensex flat, Nifty tests 25,850; AMCs advance; Auto index down 1%

Indian equity markets opened lower on Thursday, tracking weakness in Asian peers, extending losses for a fourth straight session. Market sentiment is also likely to be influenced by the weekly expiry of Sensex derivatives contracts today.

As of 11:00 AM, the 30-stock Sensex was at 84,589.77, about 30 points or 0.04 per cent higher, while the Nifty50 was at 25,840.15, down 21.60 points or 0.08 per cent.

SunPharma, TMPV, M&M, NTPC, Maruti Suzuki, Kotak Bank, Tata Steel, and BEL were the top losers, falling as much as 2 per cent. On the flipside, Infosys, Axis Bank, TCS, HCL Tech and ITC were top gainers on Thursday.

Sector-wise, Nifty Auto, Nifty Pharma, and Nifty Realty were the top losers, falling as much as 1 per cent. Meanwhile, Nifty IT and PSU Bank indices were up 0.9 per cent and 0.25 per cent, respectively.

In the broader markets, the Nifty Midcap index was down 0.10 per cent, and the Nifty Smallcap index was 0.2 per cent.

On the data front, globally, investors await the Bank of England (BoE) interest rate decision from the UK, the European Central Bank (ECB) interest rate decision from the euro area, and inflation and jobless claims data from the US. Further, the Bank of Japan will kick off its two-day meeting, with the central bank expected to raise rates to 0.75 per cent on Friday.