Mumbai, Dec 17 || Indian equity benchmark indices traded on a flat note in early deals on Wednesday, as mixed trends in banking stocks kept investors cautious.
The Sensex opened 176 points higher at 84,856 but soon gave up its early gains and slipped into the red, touching a low of 84,649.
At around 9:25 AM, the index was trading 134 points higher, or 0.2 per cent up, at 84,820. The Nifty was also marginally higher, trading at 25,913, up 53 points or 0.2 per cent.
Commenting on Nifty’s technical outlook, analysts said that the immediate support is placed around 25,700, and a breakdown below this level could lead to further consolidation toward 25,600–25,550.
“On the upside, resistance is seen at 26,000–26,050, which remains a crucial hurdle,” market watchers added.
Banking and financial stocks showed a mixed trend. Shares of SBI, Bajaj Finance, Eternal and Axis Bank were among the top gainers on the Sensex, rising around 1 per cent each.