Market trades flat, Nifty holds 10,500; IOC loses ahead of Q4 numbers

The market, while moving towards the second half of the trading hours, was trading flat with the BSE Sensex trading at 34,609 points and the NSE Nifty trading at 10,519 points.

SBI was losing nearly a percent ahead of its quarterly earnings and telecom stocks were gaining in trade with Idea gaining more than 5%, RCom and Airtel gaining 2%.

IOC was also losing more than 2% in trade ahead of its earnings.

The Bajaj group stocks have been gaining in trade for three consecutive sessions after posting their quarterly earnings. Bajaj Finserv, Bajaj Auto and Bajaj Finance were gaining between 2.5 and 3.5% range.

Bajaj Auto was losing in trade after the company did not post a guidance for the financial year. However, as soon as Nomura upgraded the stock in its report, the stock was now among the gainers.

The market opened flat as the oil concerns kept the market in check despite strong global cues.

The BSE Sensex opened at 34,601 points, while the NSE Nifty at 10,518 points.

Dr Reddy's Labs was the current top index gainer, gaining nearly 2%, ahead of declaring its quarterly earnings today.