Nifty Trades Flat, Global Markets Subdued

Benchmark indices were trading little changed, as global markets too exhibited a weakish trend, following weak handover from the US.

Worries over rising Covid-19 cases in the US impacted sentiments, with the Dow Jones ending lower. Dow Futures too were once again pointing to weak openings for the US markets.

The Sensex was trading flat at 33,521 points, while the Nifty lost 12 points in early trade. India Cements saw its share price gain 1.5 per cent, after the company denied reports that Radhakishan Damani is considering a controlling stake in the company.

A report earlier, citing unnamed sources revealed that Damani, was considering acquiring a controlling stake in the company.

Fortis Healthacare saw its share price lose as much as 1 per cent after the company reported a consolidated net loss of Rs 41.24 crore for the quarter ended March 31, 2020.

Pidilite Industries too saw its shares price fall after the company reported a 33.92 per cent decline in its consolidated net profit to Rs 156.51 crore for the fourth quarter ended March 31. Zee Entertainment, UPL and Vedanta were the top gainers in trade from the Nifty pack. Stocks that lost ground were ONGC, BPCL and JSW Steel.

Most of the Asian markets were trading with marginal losses.