Domestic sensex dropped over 400 points in opening trade on Wednesday tracking losses in index heavyweights HDFC Bank, Reliance Industries and ICICI Bank amid weak cues from global markets.
After hitting a low of 29,602.94, the 30-share BSE barometer pared most losses to trade 14.98 points or 0.05 per cent lower at 30,052.23.
Similarly, the NSE Nifty was quoting 9.50 points, or 0.11 per cent, down at 8,782.70.
Axis Bank was the top loser in the Sensex pack, falling up to 3 per cent, followed by Reliance Industries, TCS, ITC and IndusInd Bank.
On the other hand, Sun Pharma, HUL, M&M and HDFC rallied up to 5 per cent.
Benchmark exchanges on Wall Street ended lower in overnight trade.
Brent crude futures, the global oil benchmark, rose 2.26 per cent to USD 32.59 per barrel.
The number of confirmed COVID-19 cases in India has crossed 5,000.
Global tally of the infections has crossed 14 lakh, with over 82,000 deaths.