The Indian stock market's key indices, Sensex and Nifty, started the day on a tepid note on Wednesday amid negative global cues.
The 30 stock S&P BSE Sensex started the day in the positive at 58,977.34 points. However, the index soon slipped into the red hitting a low of 58,676.46 points.
At 9.22 am, the Sensex was trading at 58,883.49 points, which is 30.42 points or 0.05 per cent, higher than its previous session's close at 58,853.07 points.
The Indian equities markets have witnessed a strong rally in recent days. The Sensex had gained 465.14 points or 0.80 per cent on Monday, the previous trading day.
The broader Nifty 50 of the National Stock Exchange was trading at 17,543.40 points, which is 18.30 points or 0.1 per cent higher than its previous session's close at 17,525.10 points.
The Nifty had gained 127.60 points or 0.73 per cent on Monday. ICICI Bank surged 1.58 per cent to Rs 849.65.
The index heavyweight Reliance Industries Limited was trading 0.66 per cent higher at Rs 2583.85. Sun Pharma, Nestle India, Power Grid Corporation, Bharti Airtel and Hindustan Unilever were among the major Sensex gainers.
NTPC slumped 2.39 per cent to Rs 155.40. Bajaj Finance dipped 1.20 per cent to Rs 7255.10.
HCL Technologies, Wipro, Infosys, Asian Paints, HDFC, TCS and Axis Bank were among the major Sensex losers.