Domestic equity benchmark indices traded largely flat in early deals on Wednesday amid mixed global market trends and a decline in crude oil prices.
Investors remained cautious despite positive signals from select Asian and US markets, as profit booking in heavyweight stocks capped gains.
The BSE Sensex traded around 76,050 during the morning session, gaining nearly 40 points, while the NSE Nifty rose about 20 points to trade above 23,930.
The indices opened on a subdued note earlier in the day as market participants closely monitored global developments and commodity price movements.
Among sectoral indices, Nifty Metal emerged as the top performer, rising more than 1.5 per cent. Cement stocks also witnessed buying interest, while media, realty and consumer durable shares traded in positive territory.
Analysts attributed the gains in metal counters to easing concerns over commodity prices and improved investor sentiment in industrial sectors.
Weakness persisted in oil & gas, banking and information technology stocks. Nifty Oil & Gas remained the top losing sector, while private banking and financial shares also traded lower.
Selling pressure was visible in heavyweight stocks such as Coal India and ONGC, which declined sharply in early trade. HDFC Bank, Infosys and Wipro also remained under pressure.
India VIX edged higher, reflecting cautious investor sentiment despite stable market conditions.
Analysts said recent profit booking indicated short-term consolidation, though overall sentiment remained steady.
Globally, investors tracked tensions between Iran and the US near the Strait of Hormuz. Crude oil prices declined, with Brent crude slipping below $98 per barrel.
Asian markets traded mixed, while Wall Street closed higher overnight on gains in technology stocks.
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