Investors remained cautious after sharp rise in January, which was the highest gain in January in the last 18 years.
At 09.50 am IST, the 30-share BSE Sensex was trading at 17135.40 down by 58.15 points or 0.34% and NSE Nifty was trading at 5180.95 down by 18.30 or 0.35%.
In Asia, most of the markets were trading marginally up, the Nikkei 225 up by 13.45 points and was at 8816.14. The Hang Seng was up by 23.89 points and was at 20,414.73. Shanghai was down by 9.72 points and was trading at 2,282.89
Among sectoral indices on BSE, most of the sectors were trading in red. Consumer Durables, Realty, Consumer Goods, IT and TECk were top losers.
Auto, Metal, Health Care, Oil & Gas were trading marginally up in morning trade.
On the National Stock Exchange (NSE), the top volume gainers were Jindal Steel, Sail, M&M, Hero Moto Cop and Tata Power posted gains between 0.96%-2.99% in morning trade.
And the loser in morning trade were Sesa Goa, Siemens, HDFC, Coal India, JP Associates.