After Tuesday's sharp upmove, the Indian stock market opened on a somewhat sluggish note this morning, with investors treading cautiously despite a fairly steady trend in Asian markets on the back of encouraging Chines GDP data.
The BSE benchmark Sensex, which rose to 28,131.07 at the start, is now down 33.80 points or 0.1% at 28,017.08. The Nifty50 of the National Stock Exchange is down 8.70 points or 0.1% at 8669.20, after having advanced to 8698.75 earlier.
In the forex market, the rupee opened at 66.68 against the U.S. dollar, up slightly from its previous close of 66.72.
Sun Pharmaceutical Industries, Cipla, Wipro and Lupin are up 1% - 1.2%. ONGC, Reliance Industries, Dr Reddy's Laboratories, NTPC, Bajaj Auto, Maruti Suzuki and GAIL India are modestly higher.
BHEL, up nearly 5%, is the top gainer in the Nifty50 index. On Tuesday, the Prime Minister Narendra Modi dedicated to the nation three hydro-electric projects (HEPs) with a generating capacity of 1732 MW in Himachal Pradesh.
Grasim Industries, BPCL, Yes Bank, Aurobindo Pharma, Eicher Motors, Kotak Bank, Hindalco and Bosch are up 0.3% - 1%.
ICICI Bank, Larsen & Toubro, Hindustan Unilever, ITC, Tata Motors, Bharti Airtel and Adani Ports are down 0.5% - 1%.
Zee Entertainment Enterprises, Tata Motor DVR, Tech Mahindra, Bharti Infratel and Bank of Baroda are also down in negative territory.