Reuters Market Eye - The BSE Sensex and Nifty were trading in the red on Thursday after a string of record highs in recent sessions. The benchmark BSE Sensex was down 0.43 percent while the broader Nifty was 0.51 percent lower at 11:47 a.m.
Traders said the market is likely to see some consolidation ahead of key data and events.
The outcome of the European Central Bank's policy meeting later in the day and the U.S. non-farm payrolls data on Friday are awaited.
Realty and infrastructure stocks are leading the decline with the NSE Realty index down 4.4 percent at 11:48 a.m.
The MSCI-Asia Pacific excluding Japan index was down 0.14 percent as of 11:48 a.m.
Asian shares were steady near seven-year highs, underpinned by hopes of a ceasefire in Ukraine, though a cautious mood prevails ahead of the ECB meeting.
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(Reporting by Swati Bhat)