The BSE Sensex was trading 32.37 points lower at 20,416.12 points, while the NSE Nifty was trading 18.80 points lower at 6,065.20 points at 10.00 am IST.
On Wednesday, the Index of Industrial Production (IIP) for December contracted 0.6% y-o-y. However, the January CPI inflation stood at 8.79%, at 24-month low.
Experts feel markets are likely to remain volatile.
"Markets could remain volatile in a narrow range of plus / minus 25 points on Nifty throughout the session. Immediate support for Nifty is at 6060, while resistance is at 6125 level," HDFC Securities said in a note.
Among sectoral indices, BSE Bankex (-0.93%), BSE Oil & Gas (-1.09%) and BSE Consumer Durables (-0.70%) were the major losers. Among individual stocks, Cipla (-5.39%),Coal India (-2.24%) and Oil & Natural Gas Corpn (-1.63%) were the major losers.
Cipla on Wednesday reported 17% year-on-year fall in consolidated net profit to Rs 284 crore for the quarter ended December.
Among Asian indices, the Nikkei (-1.58%), Hang Seng (-0.26%) and Kospi (-0.03%) were trading in the red.