Sensex, Nifty trade flat; Bank Nifty underperforms

Equity benchmark indices were trading flat, with Sensex up 16 points at 37,601 and Nifty 50 slightly higher by 3 points at 11,378 mark.

The most active stocks are Bank of Baroda, which plunged 13.5% followed by Reliance Industries, Yes Bank, Axis Bank and State Bank of India.

PSU Banking stocks are underperforming in today’s session, down ~4%. Shares of Bank of Baroda slumped 13%, while those of Dena Bank and Vijaya Bank spurted 20% and 3% respectively after the government proposed their merger.

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