Sensex flat; Nifty below 26,200; Belrise Ind soars 10%, Ambuja Cements 2%

Indian equity benchmark indices traded flat on after two sessions of gains, as selling in information technology (IT) and realty stocks offset upbeat global cues.

Around 11 AM, BSE Sensex was at 85,536.96, down 30.52 points or 0.04 per cent and NSE Nifty50 quoted 26,181.95, up 9.55 points or 0.04 per cent.

Power Grid, UltraTech Cement, BEL, Kotak Mahindra Bank, Bajaj Finance, NTPC and HDFC Bank were the top gainers. Meanwhile, Infosys, Bharti Airtel, TCS, ICICI Bank, Asian Paints, TechM, Eternal and Axis Bank were the top draggers.

In the broader markets, with the Nifty Midcap was up 0.01 per cent and the Smallcap index was higher by 0.35 per cent.

Sector-wise, Nifty IT was down over 1 per cent, the top loser. On the flipside, Nifty Metal was up 0.63 per cent and Nifty Pharma was up 0.27 per cent.

Key events today

Investors are awaiting US Q3 GDP growth rate estimates, along with US October, November industrial production and US October, November manufacturing production data.

IPO corner

In the mainboard IPO segment, the initial public offering (IPO) of Gujarat Kidney & Super Speciality will enter its second day of subscription. KSH International will make its debut on the exchanges.

In the SME space, IPOs of Bai Kakaji Polymers, Admach Systems, Nanta Tech, and Dhara Rail Projects will open for public subscription. EPW India IPO, Dachepalli Publishers, Shyam Dhani Industries and Sundrex Oil Co will enter their second day.