The benchmark BSE Sensex slipped by 46.58 points in morning trade today as bourses turned wavery on bouts of selling in key bluechips from IT, tech, healthcare and FMCG sectors.
Earlier, the market recovered from its overnight losses amid firm buying in realty, capital goods, banking, consumer durables, metal and oil & gas sector stocks coupled with shares of mid-cap and small-cap companies.
Higher Asian cues amid overnight gains in US stocks along with FII inflows overlapped the market sentiment.
The 30-share index opened higher at 28,472.32 and fluctuated between 28,504.65 and 28,370.73 before quoting 28,397.43 points at 1100 hours.
It was down by 46.58 points, or 0.16 per cent, over its previous close.
The NSE 50-share barometer was trading almost flat, lower by 3.85 points, or 0.05 per cent, to 8,520.85 at 1100 hours.
Major losers were Dr Reddy (1.70 per cent), Infosys (1.51 per cent), ITC (1.45 per cent), HDFC (1.38 per cent) and SSLT (0.70 per cent).
The gainers were BHEL (3.70 per cent), Tata Motors (1.24 per cent), M&M (1.21 per cent), NTPC (1.18 per cent) and Axis Bank (0.96 per cent).
Meanwhile, Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 106.82 crore yesterday, as per provisional data from the stock exchanges.
Most Asian stocks traded higher as US auto-makers posted better-than-estimated car sales.
Key benchmark indices in Singapore, Taiwan, China, Japan and South Korea rose by 0.05-1.64 per cent, while indices in Hong Kong and Indonesia were off by 0.05-0.26 per cent.