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Equity benchmark indices failed to hold the initial gains by falling 196 points in morning trade following losses in global equities after the shares in Wall Street plunged to their biggest daily drop in more than three decades overnight.
Among sectoral indices, the metal, FMCG, and pharma index opened with gains while the Nifty Bank, IT, and media fell.
Tata Steel, Sun Pharma, and IndusInd Bank were among the top gainers on the Sensex pack, while HDFC Bank, Kotak Bank, and HDFC were the losers.
The Sensex is currently 96 points up or 0.31% higher at 31,486 and the Nifty is also up 16 points or 0.17% at 9,213. The market breadth was in favor of the declines, with 642 stocks are up while 930 shares with losses.
The Indian rupee opened higher by 14 paise at 74.13 per dollar.
The Reserve Bank of India's assurance on the liquidity front, fall in crude oil prices, and the coronavirus news flow will remain the major triggers for the session.