The Indian market traded flat around noon on Thursday, with investors looking to consolidate after a four-day rally. The 30-share benchmark S&P BSE Sensex traded at 37,753.57 at 12.55 pm, up by just over a point. The broader 50-share NSE Nifty was down by over 4 points at 11,337.50.

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Broader markets underperformed with the Nifty MidCap mildly in the red. The BSE MidCap slipped 0.27 percent.

Only 16 sectors advanced led by Nifty CPSE and realty, pharma and telecom gauges, while BSE Consumer Durables was the weakest among the 27 declining sectors.

Nifty Bank hit a record high at opening trade, crossing the 29,000-mark, up over 100 points.

Among gainers, Yes Bank, IndusInd Bank, NTPC, Sun Pharma and Coal India rose between 1 and 3 percent. Power Grid, UltraTech Cement, HCL Technologies, Titan, Tech Mahindra, Hero MotoCorp, ICICI Bank, ITC and Hindustan Unilever shed between 0.5 percent and 4 percent.

Shares of Dewan Housing Finance Ltd rose 6.79 percent on NSE after news reports suggested that the National Housing Bank (NHB) completed its inspection of the company’s book last week and found no major deviation.

Zee Entertainment Enterprises (Zee) rose over 3 percent in the early morning trade after news reports claimed that Sony Corporation is in advanced talks to buy a 20 to 25 percent stake in the company to form a strategic partnership.

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