Benchmark indices pared some of its losses to trade flat with a negative bias in Tuesday's late morning session, amid weak global cues.
The S&P BSE Sensex dipped 48 points, or 0.1 per cent, to 37,540. NTPC, Tech Mahindra, Bharti Airtel, Mahindra & Mahindra and Maruti Suzuki India were the top laggards in the Sensex pack. On the other hand, Reliance Industries zoomed as much as 11 per cent on the BSE after the company, at its annual general meeting (AGM) on Monday, announced that Saudi Aramco has signed a letter of intent for a proposed investment in RIL’s oil-to-chemical division. The deal is likely to fetch RIL $15 billion for a 20 per cent stake.
The broader Nifty50 index slumped 7 points to 11,103.
The Nifty sectoral indices were trading mixed. Nifty IT, down 1.4 per cent, and Nifty Auto and Nifty FMCG indexes, down 1.2 per cent each, took the deepest cuts.
In the broader market, the S&P BSE MidCap index was hovering around 13,571, down 99 points, or 0.7 per cent, while the S&P BSE SmallCap index slipped 6 points, or 0.05 per cent, to 12,694.