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Benchmark indices are trading in a narrow range with Sensex and Nifty swinging between negative and positive zone.
By 1030, Sensex remained flat at 18,792, and the Nifty up 3 points at 5,662 levels.
On the global front, Asian shares and the euro were pressured on Friday by fears Cyprus may default on its debt, while deteriorating euro zone economic activity further underscored the troubles ailing the region. The MSCI's broadest index of Asia-Pacific shares outside Japan, inched down 0.1%, weighed by a 0.3% drop in Australian shares with worries about the stability of the Australian government after a leadership crisis hurting sentiment.
Back home, the rupee today rose marginally by two paise to 54.26 against the dollar in early trade at the Interbank Foreign Exchange on increased selling of the US currency by exporters.
On the sectoral front, BSE Consumer Durable, Realty, TECk and IT indices have fallen between 1-2%. However, BSE power and Auto indices have gained by nearly 1% each.
The main gainers on the Sensex at this hour include Bajaj Auto, Hero Moto, NTPC, HUL and Coal India, all gaining between 1-2%.
On the losing side, Bharti Airtel, Infosys, Tata Steel, TCS and ONGC have declined between 1-3%.
Among other shares, Fertiliser shares have slipped this morning on news that the subsidy payment is likely to remain outstanding this fiscal year.
Rashtriya Chemicals and Fertilisers is down 2.7% at Rs 36. National Fertiliser has slumped 3.7%. Gujarat State Fertilisers is down 0.8% at Rs 59.10. Zuari Agro is down 2.5% while Coromandel International, Chambal Fertilisers has slipped marginally.
Shares of steel major SAIL today lost 1.25 per cent on the BSE in early trade as government's 5.82 per cent stake sale of the firm commenced on the bourses.
The floor, or the minimum offer, price for SAIL's share sale has been set at Rs 63 apiece, which was a 1.41 per cent discount to yesterday's closing price.
Meanwhile, BSE Midcap index has plunged by 0.57% whereas BSE Smallcap index is down 0.86%.
The market breadth in BSE remains unhealthy with 1,319 shares declining and 632 shares advancing.
