Sensex and Nifty 50 recovered intraday losses to trade flat, lifted by gains in FMCG and private banking stocks. Bank Nifty outperformed the frontline indices.

That’s a steeper hit than the 15% to 20% range applied on several regional peers.India’s stock benchmark has lagged most major global peers this year amid concerns over a slowdown in its economy and corporate earnings.

Gift Nifty trades at 24,712, down nearly 150 points, a discount of nearly 140 points from the Nifty futures’ previous close, indicating a muted start for the Indian stock market.