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Nifty Trades Flat; Global Cues Mildly Positive
Indian markets were subdued on Thursday, after a more than 2 per cent rally on Wednesday.
The Nifty was trading slightly positive, as most Asian markets were trading with gains, after strong closings across the US markets.
The Sensex was trading with gains 13 points, while the Nifty was higher by 22 points.
Banking stocks were leading the set of gainers with ICICI Bank higher by almost 2 per cent. Shares in Kotak Mahindra Bank were trading with gains after the bank's board approved a capital raising plan which may see it raise up to nearly Rs 7,500 crore by issuance of shares. The will also help reduce the promoter group's ownership in the lender and help take it closer to the levels mandated by Reserve Bank of India.
Shares in Reliance Industries, which had surged 10 per cent on Wednesday, following a stake sale to Facebook, was marginally up in trade.
Meanwhile, crude Futures which had slumped earlier this week, managed to stage a recovery.
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