Equity benchmark Sensex dropped over 150 points in opening trade on Wednesday, tracking losses in index majors Reliance Industries, HDFC Bank and Kotak Bank amid a negative trend in global markets. The market, however, turned flat in the first half hour of trading. The 30-share BSE index was trading 6.73 points or 0.01 per cent higher at 50,200.06, and the broader NSE Nifty advanced 1.50 points or 0.01 per cent to 15,109.60.

M&M was the top loser in the Sensex pack, shedding around 1 per cent, followed by ONGC, Kotak Bank, ITC, HUL and HDFC Bank. On the other hand, PowerGrid, SBI, UltraTech Cement, Nestle India and NTPC were among the gainers. In the previous session, Sensex soared 612.60 points or 1.24 per cent to settle at 50,193.33, and Nifty quoted higher by 184.95 points or 1.24 points at 15,108.10.