The S&P BSE Sensex has shaved off nearly 200 points from intra-day highs and is at 40,353 , and the broader NSE Nifty benchmark is also virtually unchanged from the previous close at 11,899.
At 10.45 am, the S&P BSE Sensex was trading at 40,353 down 13 points and the broader NSE Nifty benchmark was at 11,0896, up one point.
Top percentage gainers on the 50-scrip index at the time were Bharti Airtel, BPCL and Tata Steel, trading between 2.7 per cent and 6 per cent higher.
Bharti Airtel, Sun Pharma and Tata Steel were the top contributors to the rise in Sensex.
FMCG index is a major drag on the markets in mid-morning trading, losing around half a per cent. In this sector, the FMCG heavyweights ITC and HUL have shed about half a per cent each.
Market breadth favored the advances, with 1,038 stocks trading higher on the BSE against 983 moving lower. On the NSE, 837 shares advanced while 809 declined.