Indian markets flat on weak GDP data, Asian cues

Indian markets opened lower on Thursday as the country's economic growth decelerated to its slowest level in six quarters in the April-June period.

The country recorded a fiscal deficit of Rs 3.93 lakh crore of the budget estimates for 2016-17.

Asian markets also opened lower on crude oil price slump. MSCI’s broadest index of Asia-Pacific shares outside Japan extended early losses and was down 0.5%, while Nikkei was trading flat in early trade sessions. 

BSE Sensex was trading down 0.11% to 28,420.51 points and Nifty 50 was trading down 0.09% to 8,778 points at 0945 hours.

Top five gainers on BSE were Hindustan Construction Co. (14.18%), KEC International (4.18%), Arvind Ltd (2.91%), Jubilant (2.87%) and Sadbhav Engineering Ltd (2.46%).

Among the losers were JaiPrakash associates (3.43%), GVK Power & Infrastructure Ltd (2.71%), Muthoot Finance (2.54%), Prestige (2.42%) and Max Financial Services Ltd. (2.18%).

Stocks in focus are Reliance ahead of its Annual General Meet which is scheduled to take place on Thursday. Shares of Reliance Industries were trading down 0.32% to Rs 1054.60 per share.