India's benchmark equity index, Sensex, on Thursday crossed the 42,000-mark for the first time rising 134.58 points in the opening trade. This came after the US and China signed the first phase of the trade deal.
However, Sensex turned flat after hitting 42,000 mark. At 11.54 am, the Sensex was down 29.75 points to 41,842.98. The Nifty traded at 12,329.30, lower by 14 points.
While metal stocks slipped over 1 per cent lower, auto scrips traded in the green.
US-China trade deal
US President Donald Trump and Chinese Vice Premier Liu He on Wednesday signed a deal that will roll back some tariffs and see China boost purchases of US goods and services by $200 billion over two years.
The Phase 1 deal, however, does not fully eliminate the tariffs while the $200 billion purchase targets, which include energy, farm and manufacturing products, look daunting to achieve.
Meanwhile, the rupee also rose 7 paise to 70.75 against US dollar in opening trade.
(With agency inputs)