Private lenders Axis Bank, IndusInd Bank and ICICI Bank gained by 3.6 per cent, 3 per cent and 2 per cent respectively while IT majors Tech Mahindra, Infosys and HCL Technologies were up by 4.2 per cent, 3.5 per cent and 2.5 per cent.

MSCI's broadest index of Asia Pacific shares outside Japan fell by 1.2 per cent while Japan's Nikkei retreated from a one-month high and dropped by 0.8 per cent.

At 10:15 am, the BSE S&P Sensex was down by 36 points or 0.1 per cent at 36,702 while the Nifty 50 edged lower by 8 points or 0.07 per cent at 10,806.

Among stocks, Hindalco gained by 5.1 per cent to Rs 163 per share. Tata Steel moved up by 3 per cent, Vedanta and JSW Steel by 2.2 per cent each.

Most sectoral indices at the National Stock Exchange were in the red except for Nifty private bank which moved up by 2.6 per cent, IT by 2 per cent and financial service by 1.5 per cent.

The other prominent gainers were UPL, ICICI Bank, NTPC, Britannia and HDFC. Among those in the red zone were Sun Pharma, Dr Reddy's, Tata Consultancy Services, Infosys, GAIL and Power Grid Corporation.

Meanwhile, Asian stock markets were marginally higher as surging coronavirus infections checked hopes for a swift global recovery.

Mumbai (Maharashtra) : Equity benchmark indices edged higher during early hours on Wednesday on the back of gains in FMCG...

Private lenders Kotak Mahindra Bank, HDFC Bank and Axis Bank edged higher by 4.5 per cent, 3.9 per cent and 3.8 per cent respectively.

Kotak Mahindra Bank dipped by 0.9 per cent, Axis Bank by 0.8 per cent and IndusInd Bank by 0.6 per cent. The others which lost were ONGC, Adani Ports, NTPC, Larsen & Toubro and Bajaj Auto.