Markets pare initial gains, Nifty slips below 9,400 ahead of inflation data

The S&P BSE Midcap and the S&P BSE Smallcap indices edged higher by 0.1% each

The benchmark indices pared initial gains to slip in red   on Friday tracking mixed trend seen in Asian markets after a downbeat day on Wall Street. 

At 11:36 am, the S&P BSE Sensex was trading at 30,172, down 78 points, while the broader Nifty50 was ruling at 9,392, down 30 points. 

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices tanked 0.7% and 0.3%, respectively. 

"Despite the rallies losing fizz, downside momentum did not dominate suggesting that the 9500-9550 objective is still in play, atleast as long as Nifty stays above 9,430. A