The Indian equity benchmark indices opened on a flat note on Monday as gains in auto and IT stocks were countered by selling in banks and financials.

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At 9:15 am, the Sensex opened 0.04 percent, or 18.61 points lower at 50,773.47, while the Nifty50 index opened at 15,048.40, up 17.45 points, or 0.12 percent.

Broader markets witnessed selling as Nifty Smallcap100 and Nifty Midcap100 indices trading lower.

Among sectoral indices, banks, metals and financial services were under pressure, while IT, auto and realty indices traded in the green.

On the Nifty50, Adani Ports & SEZ, HDFC Bank, HDFC, Kotak Mahindra Bank and Infosys were the top losers, while Larsen & Toubro, Maruti Suzuki, SBI Life, Britannia Industries and IOC were the top index gainers.

Tata Communications gained over 2 percent after it announced that the government will sell its entire 26.12 percent stake in the company.

Globally, stock prices inched higher while US bond yields hovered near a 13-month peak on Monday as investors bet US economic growth will accelerate after the $1.9 trillion stimulus bill President Joe Biden signed into law last week.

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