Benchmark indices Sensex and Nifty significantly pared their losses on October 7 due to various reasons, including value buying.
At 11 am, the Sensex was down 76.47 points or 0.1% at 72,991.34, and the Nifty was down 71.10 points or 0.31% at 22,705. About 1,798 shares advanced, 1,809 shares declined, and 172 shares were unchanged.
Bank Nifty was trading in positive after Reserve Bank of India's monetary policy.
The central bank raised its benchmark repo rate by 25 basis points to 5.5% on Wednesday, marking the first rise in nearly four years amid mounting inflation and strong economic growth.
The central bank also signalled further rate hikes by changing its stance from "neutral" to "calibrated tightening", but Governor Sanjay Malhotra said the extent and timing of any more increases would be contingent on actual inflation and growth outcomes.