Indian share markets were trading flat in the afternoon trade despite April wholesale price index inflation numbers touching a 41-month low. The April inflation number of 4.89 percent was much lower than the CNBC-TV18 poll which had expected wholesale prices to have risen an annual 5.4 percent in April. European shares opened marginally in negative.

The Sensex was down 6 points at 19685 while the Nifty was flat at 5980. About 1024 shares advanced, 1138 shares declined and 143 shares were unchanged. Shares of realty and banks were trading flat despite the April WPI inflation having fallen well below the RBI’s comfort zone.

Key gainers in the Nifty were ONGC, Bharti Airtel, Power Grid, Ranbaxy Labs and GAIL, up over a percent each. Laggards included HCL Tech, Jaiprakash Associates, Ambuja Cements, BHEL and Bajaj Auto, down between 1 to 2 percent.

The most active shares on NSE were SBI, United Spirits, ICICI Bank, Reliance Infra and ITC. In the midcap space, shares of Berger Paints, Muthoot Finance, Amara Raja Batteries, J K Cement and Solar Industries were biggest losers. Zydus Wellness, Eicher Motors, Hindustan National Glass, Sadbhav Enginering and Motherson Sumi made smart gains for long traders.