The BSE benchmark sensex failed to maintain initial gains and was quoted lower by 19 points inflation numbers due to selling pressure mainly in Auto, Consumer Durable, Capital Goods, Healthcare and Power sectors.
The sensex resumed higher at 19,626.81 and firmed up further to a high of 19,639.83 on sustained buying on the back of higher Asian cues coupled with persistent capital inflows from foreign funds into equity market.
However, it declined afterwards to 19,587.48 on mild selling before quoting at 19,589.42 at 1030hrs, showing a net loss of 18.66 points or 0.10 per cent from its last close.
The NSE 50-share Nifty also moved down by 8.65 points or 0.15 pct to 5,924.30 at 1030 hrs.
Major losers were Maruti Suzuki (2.99 pct), Bharti Airtel (2.49 pct), Wipro (2.27 pct), Tata Power (2.23 pct), Reddy's Lab 2.15 pct and SBI (1.86 pct).
Foreign institutional investors bought shares worth net Rs 800.31 crore yesterday as per provisional data from the stock exchanges.
Asian stocks rose in the early trade as investors awaited the G20 meeting of finance and central bank officials over the weekend for clues to their views about global growth and the role currencies play in the economies of individual member countries.
Key benchmark indices in Hong Kong, Indonesia, Japan, and South Korea rose by 0.21 per cent to 0.89 per cent while Singapore's Straits Times fell 0.21 per cent.
Stocks More on Wipro Ltd
Company INFO More on Maruti Suzuki India
Stocks to watch-Feb 14
(Reuters): Nifty futures on the Singapore Exchange was 0.11 percent up. The MSCI-Asia Pacific index, excluding Japan was 0.62 percent higher.
Asian shares rose ahead of the G20 meeting of finance and central bank officials over the weekend.
U.S. stocks drifted in light volume on Wednesday, ending little changed, as investors remained cautious after the S&P 500 index briefly hit its highest intraday level since November 2007.
FACTORS TO WATCH
January WPI inflation (around 0600 GMT).
Earnings: State Bank of India, Tata Motors Ltd , Dr. Reddy's Laboratories Ltd, DLF Ltd.
The Indian government is likely to target 400 billion rupees ($7.42 billion) in proceeds from stake sales in state-run companies in the next fiscal year, a finance ministry official with direct knowledge of budget talks told Reuters on Wednesday. The Indian government is likely to allocate 200 billion rupees ($3.71