Heavy selling pressure was witnessed in IT and metal stocks.

Around 10.20 a.m., Sensex was trading at 49,292.97, lower by 199.35 points or 0.40 per cent from its previous close of 49,492.32 points.

It opened at 49,432.83 and has touched an intra-day high of 49,487.86 and a low of 49,182.37 points.

The Nifty50 on the National Stock Exchange was trading at 14,504.35, lower by 60.50 points or 0.42 per cent from its previous close.

Manish Hathiramani, Technical Analyst with Deen Dayal Investments said: "There is a clear indication that markets have resisted from 14,600-14,650 levels. In the short term, 14,300-14,400 is good support and if we break that, 14,000-14,100 could be the next pit stop for the Nifty."

"On the upside, a close above 14,600 could lead us to 14,750-14,800," he said.

The top gainers on the Sensex were IndusInd Bank, ITC and Larsen & Toubro, while the major losers so far were HCL Technologies, Infosys and Tech Mahindra.