Key Indian equity indices, which opened in the green on Thursday, traded on a flat-to-negative note during the mid-afternoon session as heavy selling pressure in banking and oil and gas stocks suppressed investors' sentiments.
Index heavyweights like ICICI Bank, State Bank of India, Power Grid and Axis Bank traded with losses and added to the downward trajectory of the indices, said market observers.
At 1 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded at 9,901.45 points -- down 13.45 points or 0.14 per cent.
The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 31,725.85 points, traded at 31,633.35 points -- down 38.36 points, or 0.12 per cent, from its previous close.
The Sensex has so far touched a high of 31,772.41 points and a low of 31,610.65 points during intra-day trade.
The BSE market breadth was bullish -- 1,416 advances and 1,051 declines.
On Wednesday, the benchmark indices closed on a higher note as positive global cues, coupled with healthy buying in healthcare, oil and gas and FMCG stocks, buoyed investors' sentiments.
The Nifty50 rose by 55.40 points, or 0.56 per cent, to close at 9,914.90 points, while the Sensex closed at 31,671.71 points -- up 174.33 points, or 0.55 per cent.
--IANS
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