The benchmark indices, the BSE Sensex and the NSE Nifty, slipped into the red in early session.
After opening in the green, the benchmark indices gave up their gains to trade softer.
At 9.55 am the Sensex was down 25 points or 0.06 per cent at 40,157. The Nifty was at 11,865, down 30 points or 0.26 per cent softer.
The top gainers on the Sensex were Bharti Airtel, Tata Steel, L&T, M&M and ITC.
THe laggards were HUL, Tech Mahindra, Asian Paints, TCS and Bajaj Auto.
PTI adds: In the previous session, Sensex ended 303.72 points, or 0.76 per cent, higher at 40,182.67, while the broader Nifty climbed 95.75 points, or 0.82 per cent, to finish at 11,834.60.
Exchange data showed that foreign institutional investors bought equities worth Rs 978.37 crore on a net basis on Thursday.
According to Arjun Mahajan, Head - Institutional Business - at Reliance Securities, Indian equities continue to look resilient at the moment ahead of the Reserve Bank’s monetary policy outcome as it would be crucial for the Banking, financial services and insurance (BFSI) sector and markets.
While the Monetary Policy Committee (MPC) may keep policy rates unchanged, market would be keenly watching out commentary of policy documents especially pertaining to MPC stance, GDP and inflation outlook, he noted.
Fading uncertainty about the outcome of presidential elections in the US, along with prospects of the largest fiscal stimulus after the elections bolstered investors’ confidence and aided Wall Street to close higher, he said.
Bourses in Shanghai, Hong Kong and Seoul were trading on a positive note in mid-session deals, while Tokyo was in the red.
International oil benchmark Brent crude was trading 0.35 per cent lower at $43.19 per barrel.