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Key stock indices came off their day's high levels after a weak start following subdues global cues.
At 1215hrs, the 30-share BSE Sensex trading 20 points lower at 21,806 and the 50-stock Nifty gave up 12 points to trade at 6,512, holding above the psychological 6,500 level.
The barometer indices, the S&P BSE Sensex and the NSE Nifty, both, hit their lowest level in almost one week in morning trades. It trimmed intraday losses in mid-morning trade.
Broader markets however remained resilient with both small-cap and mid-cap indices trading with gaines. BSE mid-cap index was up 0.1% outperforming the midcap and the Sensex which was marginally down 0.1% and the small-cap index was trading 0.4% higher.
Mirroring weak global cues, benchmark indices started in the red as Federal Reserve Chair Janet Yellen raised the possibility of an earlier- than-anticipated increase in interest rates.
IT stalwarts TCS and Infosys edged higher on Thursday on bargain hunting after slipping in the past sessions due to weak guidance given by the top management of both companies for the fourth quarter. TCS is up 3% at Rs 2,106 while Infosys is trading almost 2% higher at Rs 3,331.95.
Other top Sensex gainers at this hour include HUL, Sun Pharma and Wipro.
Global Markets
Overnight, U.S. stocks fell on Wednesday and the central bank dropped the U.S. unemployment rate as its definitive yardstick for gauging the economy's strength and made clear it would rely on a wide range of measures in deciding when to raise interest rates.
Equities extended declines after Fed Chair Janet Yellen said the "considerable period" between the end of its quantitative easing program, known as QE, and the first rate increase from the central bank could be six months.
The Dow Jones industrial average fell 0.70%, to end at 16,222. The S&P 500 slipped 0.61%, to finish at 1,861. The Nasdaq Composite dropped 0.59%, to close at 4,308.
In Asia, Japan's Nikkei was trading down 0.5% and Hong Kong's Hang Seng slipped 0.55%. South Korea's Kospi index was trading 0.7% lower and China's Shanghai index was trading up 0.2%.
Sectors & Stocks
Metal, Consumer Durables, IT and Teck indices up 0.3-0.7% were the only indices in positive territory.
Health care index was flat with a positive bias.
Banking index down 0.6% was the top sectoral loser along with Capital goods, Realty, Power, Oil & Gas, Auto and FMCG indices down 0.2-0.6%.
IT majors Wipro, TCS and Infosys up 0.8-2% were among the top gainers in opening trades.
Bharti Airtel, Sun Pharma, Hindustan Unilever, Mahindra & Mahindra and Gail India which added 0.5-1% were the other notable gainers.
Among the ones in red were Axis Bank, ONGC, BHEL, Coal India, L&T and SBI down 1-2%.
Market breadth was marginally positive on the BSE. 662 stocks advanced while 572 stocks declined
