The Indian equity benchmark indices opened on a flat note on Monday tracking a mixed trend in the Asian markets amid concerns over rising COVID-19 cases in the major economies.
At 9:15 am, the Sensex opened 0.05 percent, or 20.37 points, higher at 45,099.92, while the Nifty50 index opened at 13,264.85, up 6.30 points, or 0.05 percent.
Broader markets outperformed the frontline indices as Nifty Smallcap100 and Nifty Midcap100 indices were up over 0.6 percent each.
Among sectoral indices, the Nifty Metal, Nifty PSU Bank, Nifty FMCG and Nifty Media were trading higher while Nifty IT and Nifty Pharma were under pressure.
ONGC, GAIL India, Adni Ports & SEZ, Axis Bank and Indian Oil Corporation were the Nifty50 top gainers while HDFC Bank, Titan Company, Divi's Laboratories, Hindalco Industries and SBI Life Insurance Company were the top index losers.
ONGC shares rallied over 4 percent after the oil explorer’s subsidiary ONGC Videsh made a 'significant' oil strike in Colombia.
Adani Ports & SEZ gained more than 3 percent after brokerage houses Nomura, Jefferies and CLSA raised the target prices on the stock.
Globally, Asian shares retreated from a record peak on Monday after a Reuters report the United States was preparing to impose sanctions on some Chinese officials highlighted geopolitical tensions, while oil prices fell on surging virus cases.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3 percent following four straight sessions of gains. Japan's Nikkei declined 0.4 percent while Australian shares were up 0.4 percent.