Mumbai, June 12
The Indian benchmark indices opened flat on Thursday ahead of key retail inflation data, as selling was seen in the auto, IT and PSU Bank sectors in the early trade.
At around 9.28 am, Sensex was trading 69.22 points or 0.08 per cent up at 82,584.36 while the Nifty added 23.65 point or 0.09 per cent at 25,165.05.
Nifty Bank was up 98.65 points or 0.17 per cent at 56,558.40 The Nifty Midcap 100 index was trading at 59,267.75 after dropping 120.40 points or 0.20 per cent. Nifty Smallcap 100 index was at 18,772.35 after declining 26.40 points or 0.14 per cent.
According to analysts, Nifty ended higher yesterday but slipped off its intra-day peak. Technically, yesterday's candle was a doji with a slightly longer upper shadow immediately following the 'upside-gap two crows' pattern so the onus is on bulls to protect 25,029 in the near-term.
"If bears are able to drag the index below the 24,987-25,029 zone, a test of the 24,800-24,863 area will become a high probability event," said Akshay Chinchalkar, Head of Research of Axis Securities.
Meanwhile, in the Sensex pack, Asian Paints, Sun Pharma, Bajaj Finserv, Bharti Airtel, Bajaj Finance, NTPC and HDFC Bank were the top gainers. Whereas, Infosys, Eternal, Tata Motors, Tech Mahindra, HCL Tech, Tata Steel and IndusInd Bank were the top losers.
In the Asian markets, Hong Kong, Bangkok, Jakarta and Japan were trading in red, whereas Seoul and China were trading in green.