Midday Report- Markets trade flat amid volatility

Indian equities erased most of their intraday gains and slipped into flat territory. After seeing higher opening on strong global cues, the Sensex and Nifty lost momentum as profit‑booking set in. Banking and IT stocks, which led the early rally, saw some cooling off, while energy counters remained subdued amid softer crude prices. At 1.26 pm, Sensex rose by 0.03% or 20 points to 77,040. The Nifty gained 0.19% or 44 points to 24,077.

Global News-

Asian markets trade higher, tracking Wall Street gains overnight. South Korea’s Kospi surging past 7,000 for the first time, Hong Kong’s Hang Seng and Shanghai Composite also in the green, while Japan’s market remained closed for a holiday.

European markets were also higher supported by easing crude oil prices and strong earnings momentum.