The two key equity benchmarks, Sensex and Nifty, were trading flat amid volatility on Wednesday. At 10.30 am, the BSE Sensex was down 20 points to 71,366. On the other hand, the NSE Nifty50 was trading at 21,528, down 17 points.
On the 30-share Sensex platform, NTPC (2 per cent), M&M, Bajaj twins, ITC, Infosys were trading in the red. On the flip side, HCL, IndusInd Bank, ICICI Bank, TCS, Titan, TechM were among the gainers.
In the broader market, the BSE Midcap declined 0.5 per cent, while the Smallcap was down 0.1 per cent.
In the previous session on Tuesday, the S&P BSE Sensex closed 31 points higher at 71,386, while the NSE Nifty50 settled at 21,545, up 32 points.
In Asian markets, Tokyo traded in the green while Seoul, Shanghai, and Hong Kong were quoting lower. Cues from the Asian peers were mixed this morning. Japan's Nikkei surged 1.8 per cent. On the other hand, Straits Times, Kospi and Taiwan slipped around 0.5 per cent each. The US markets ended mostly lower on Tuesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 990.90 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 0.22 per cent to $77.76 a barrel.
Meanwhile, the rupee depreciated 4 paise to 83.17 against the US dollar in early trade on Wednesday amid selling of equities by foreign investors and an upward movement in crude oil prices. Subdued sentiment in the domestic equity markets also weighed on the Indian currency, forex traders said.
At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the greenback, down 4 paise from its previous close. The domestic currency settled 1 paisa higher at 83.13 on Tuesday.