India's benchmarks flat as Reliance offsets IT losses

India's benchmark indexes NSE Nifty 50 .NSEI and BSE Sensex .BSESN trade flat as a rise in heavyweight Reliance offsets drop in IT

Reliance Industries RELI.NS, second-heaviest stock in benchmarks, gains 3% after Macquarie upgrades to "outperform" from "neutral", citing improving earnings momentum

IT stocks .NIFTYIT fall 1.3%

Broader focussed small-caps .NIFSMCP100 rise 0.4% while mid-caps .NIFMDCP100 drop 0.4%

Other Asian markets decline, besieged by U.S. trade policy confusion after President Donald Trump suspends 25% tariffs on most goods from Canada and Mexico until April 2 MKTS/GLOB

Nifty rose 2% in prior two sessions after dropping 4% in 10 sessions, its longest daily losing streak on record

It is premature to confirm a bottom formation for benchmarks, with rising uncertainty on U.S. tariff front, analysts say

Fast-delivery firms Zomato ZOMT.NS and Swiggy SWIG.NS lose 3.2% and 0.8% after Indian consumer products distributors file antitrust case