Sensex and Nifty traded on a flat note on Wednesday after hitting record highs for last four sessions, as traders are expected to take a breather, while they look for cues on the strength of the U.S.

Indian equity markets were likely to open on a muted note, as indicated by GIFT Nifty futures, however, the record closing highs overnight on the Wall Street could boost sentiment.

Stock Market LIVE Updates | Domestic stocks reached a new milestone on Tuesday, with the Sensex surpassing 85,000 and the Nifty exceeding 26,000. The Nifty achieved a new all-time high for the fifth consecutive session,

The Indian markets were muted at opening bell on Wednesday, as the momentum gained from China's stimulus measures looked to be fading.

The trends on Gift Nifty also indicate a weak start for the Indian benchmark index. The Gift Nifty was trading around 25,925 level, a discount of nearly 20 points from the Nifty futures’ previous close.

GIFT Nifty was trading up 53 points or 0.20% at 26,012, indicating a positive start for the domestic indices NSE Nifty 50 and BSE Sensex. The Asian markets were trading on a higher note on Tuesday morning following overnight gains in the US markets.

The stock jumped more than 12% to hit its lifetime high of Rs 7,598. The surge was as the company received Central Drugs Standard Control Organisations approval to import and distribute Durvalumab. The drug is used with chemotherapy before surgery and alone after surgery for NSCLC (lung cancer).

Indian equity benchmark indices, BSE Sensex and Nifty50, dropped in opening trade on Wednesday. While BSE Sensex was trading above 84,700, Nifty50 was near 25,900.

The resurgence of buying interest propelled both the Nifty 50 and the Sensex to reach new milestones, showcasing the resilience of the market and the optimism among investors. The Nifty 50 surged by 0.