 "Broader markets gain; Tata Power up 2%")
The broader markets edged higher with the midcap index up 0.2% and the small cap index added 0.7%, both outperforming the BSE benchmark index which was flat with a negative bias.
The rupee was lower at 62.42 versus previous close of 62.36/37, in line with weakness in shares.
In individual stocks, VST Tillers Tractors was up 3% at Rs 616 after the company said HDFC Mutual Fund bought nearly 150,000 shares through open market.
Mahindra Holidays and Resorts India rallied 5% to Rs 263 after the company said it has sold all its stakes in two hotel companies in Austria—BAH Hotelanlagen AG and MHR Hotel Management GmbH—for an undisclosed sum.
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(Updated at 1030 hrs)
Markets started in eth red in line with the negative global cues. The BSE benchmark index was down 58 points at 20,796 and the Nifty opened below the 6,200 level at 6,186 losing 15 points in the opening trades.
The ones leading the losses were ICICI Bank, HDFC, ITC and RIL.
Meanwhile, the broader markets were marginally in the green, with both the mid and smallcap indices up 0.1% each.
Global Markets
Most Asian shares slumped on Wednesday as the prospects of a reduction in the U.S. Federal Reserve's stimulus early next year prompted investors to cash in gains from their recent rallies.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7% to its lowest levels in almost two weeks while Japan's Nikkei share average dropped 2.6% from a five-month high hit on Tuesday.
That retreat, which came after European shares had suffered their biggest falls since August, stemmed from profit-taking ahead of Friday's U.S. job data, but also reflected worries about the Fed's exit from its asset purchase scheme.
Overnight, Dow and the S&P 500 fell for a third straight day on Tuesday, dropping from record levels in a broad decline as investors took profits amid signs of a weak holiday shopping season.
The Dow Jones industrial average fell 0.59%, to end at 15,915. The Standard & Poor's 500 Index declined 0.32%, to finish at 1,795. The Nasdaq Composite Index dropped 0.20%, to close at 4,037.
Sectors & Stocks
Among the sectoral indices, Metal, Teck, IT, Realty, Power and Health Care indices started in the green with gains of 0.1-0.5%.
On the other hand, FMCG, Consumer Durables, PSU, Capital Goods, Auto, Oil & Gas and bankex indices started in the red, down 0.1-0.8%.
Sesa Sterlite, Bharti Airtel, BHEL, Jindal Steel, Hero MotoCorp and Tata Steel up 0.7-2.5% were the top gainers among the Sensex-30.
Infosys, NTPC, HDFC Bank, Tata Power, Wipro, Gail India and Dr Reddys Lab up 0.1-0.5% rounded off the gainers list.
ICICI Bank down 1.6% was the top loser among the Sensex-30 followed by L&T, Coal India, HUL, SBI, Tata Motors, HDFC, Hindalco, Maruti Suzuki and RIL down 0.5-1%.
The market breadth was marginally positive. 551 stocks advanced while 491 stocks declined on the BSE.