The two key equity benchmarks, Sensex and Nifty, opened flat with a positive bias on Friday amid weak global cues. In early deals, the S&P BSE Sensex rose to quote at 59,750, while the Nifty50 tested 17,650.
However, at 10.00 am, the S&P BSE Sensex dipped 36 points or 0.06 per cent to quote 59,597, and the Nifty was also trading with marginal losses of 16 points or 0.09 per cent at 17,609.
On the 30-share Sensex platform, HCL Tech (1.89 per cent), Kotak Mahindra Bank, HUL, Nestle India, and Wipro were trading in the green. On the flip side, Tech Mahindra, Tata Steel, Maruti, Bajaj Fiserv, and L&T were among the early losers.
Among the specific stocks on Nifty, HCL Technologies, HDFC Life, UPL, Divis Labs and Power Grid Corp were among major gainers, while losers were Tata Steel, JSW Steel, Dr Reddys Labs, Maruti Suzuki, and Tech Mahindra were the losers.
In the broader markets, the BSE MidCap and SmallCap index dipped more than 0.3 per cent.
Sectorwise, realty, auto, and metals were trading under pressure, while IT, FMCG, media, and Pharma Indices saw gains.
In the previous session on Thursday, the market closed with the Sensex marginally up 65 points or 0.11 per cent at 59,632, and the Nifty was up 6 points or 0.03 per cent at 17,624.
In global markets, major US stock indexes ended lower on Thursday. Dow Jones Industrial Average dipped 0.33 per cent while the S&P 500 was down 0.60 per cent. Nasdaq Composite Index also slipped 0.80 per cent.
Elsewhere in Asia markets opened lower on Friday following Wall Street. The benchmark Nikkei 225 index was down 0.24 per cent, or 68.01 points, at 28,589.56 in early trade, while the broader Topix index lost 0.35 per cent, or 7.11 points, to 2,032.62.
As concerns about a recession and slowing global oil demand grew in response to deteriorating US economic data and an increase in US petrol stocks, oil prices dropped on Friday. Brent futures were down by 29 cents at $80.81 per barrel. West Texas Intermediate crude (WTI) slipped 1.87 dollar to trade at $77.29.
The Rupee rises 3 paise to 82.14 against the US dollar in early trade.
Foreign institutional investors (FII) sold equities worth Rs 1,169 crore on Thursday, while domestic institutional investors (DII) bought equities worth Rs 832.72 crore on Thursday, the exchange data showed.