Markets edged lower in early noon deals on profit taking in heavyweights like L&T, ONGC, Tata Motors and HDFC Bank.
At 1245 hrs, the Sensex was up 10 points at 21,836 and the Nifty gave up all its gains with the index down four points at 6,507.
Broader markets gave off its early gains and turned flat though with a positive bias.
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On the sectoral front, Capital Goods index was down 1%.
Bankex, Realty, Power, Oil & Gas and Auto indices slipped 0.2-0.6%.
Meanwhile, defensive like Health Care and FMCG indices gained 1% each along with Consumer Durables up 1.5%.
IT, Teck and Metal indices added 0.2-0.3%.
Sun Pharma up nearly 4% continues to remain the top gainer among Sensex-30.
ITC, Hero MotoCorp, Wipro, Coal India, Maruti Suzuki and TCS up 1-2% were the other notable gainers.
BHEL down 2% along with Tata Motors, SBI, ONGC and Hindalco down 1.5-1.8% were the major losers of the hour.
Index heavyweights like Reliance Industries, L&T and HDFC Bank gave off 0.4-1%.
The market breadth was negative. 1,334 stocks declined while 1,166 stocks advanced on the BSE.
In Asia, stocks fell on Wednesday as economic uncertainty in China and the United States combined with political tensions in Ukraine to keep investors cautious and commodities under a dark cloud.
Japan's Nikkei retreated 2.6%, continuing the see-saw pattern of the last couple of months, while Australian stocks shed 0.6%. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1%.
Investors were hoping Chinese data on industrial output, retail sales and urban investment on Thursday might offer some clarity on where the economy is heading.