Indian markets give up early gains, trade flat

In the mid day trading session, benchmark indices are trading flat to positive after giving up early morning gains. The NIFTY 50 is trading 18 points higher while NIFTY Bank is trading 121 points or 0.29% higher.

While broader indices of NIFTY midcap 100 and NIFTY smallcap 100 are down 0.5% and 1.0% respectively during the mid day trading session. Although broader indices have shown sharp recovery from their respective day lows. The NIFTY midcap 100 is trading at 47334 (-0.6%) and NIFTY smallcap is trading at 15453 (-1.0%).

On the sectoral front Nifty metals remains the key loser amongst its all peers loosing 3.3% during mid day session. Hindalco industries which is one of the key component of the index is trading 13.3% down post its quarterly earnings announcement.