The BSE Sensex was down marginally by 3 points at 16840 points, while the Nifty was down 4 points at 9.20 am IST.
Among the shares that gained today were Hindalco and Bajaj Auto which saw buying interest at lower levels. Shares of Raymond continued to fall sharply in trade today following a loss reported by the company.
The metal pack continued to see selling pressure with Tata Steel and Sterlite dropping. In Asia markets were marginally up with the Chinese Shanghai Composite, Taiwan Weighted, Korean Kospi and Hong Kong's Hang Sang all trading higher.
Markets are likely to await the results of heavyweights including ITC, Bhel and Sterlite, which may determine the market trend for today. According to analysts BHEL could see moderation in revenue growth due to sluggish inflows and delays in execution. ITC is expected to report a growth of 19% in net profits.