The Indian equity benchmark indices gave up initial gains after a positive opening on Friday following choppy trading in the global peers.

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At 9:15 am, the Sensex opened 0.19 percent or 108 points higher at 58,009. Nifty50 index opened marginally higher at 17,278 -- up 30 points or 0.17 percent. The broader market indices were trading mixed.

Among sectors, IT, pharma, healthcare, and realty indices opened in the green. Sectors like FMCG, metals, media, banks, financials were in the red.

Bluechips leading the gains on the Nifty50 index were Bajaj Finance, Infosys, BPCL, Wipro, and Reliance Industries. Each scrip gained over 2-3 percent. Leading the losses were Hindalco, Cipla, Sun Pharma, ICICI Bank, Bajaj Auto.

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Globally, Asian shares struggled for traction Friday after a rush of central bank meetings underlined the growing threat posed by a spike in global inflation, while fears about the omicron variant of COVID-19 added to a cautious mood.

The Fed was the centrepiece of a busy week for central bank policy makers, many of which took a more hawkish turn.

The Bank of England surprised markets by becoming the first major global central bank to raise interest rates - hiking by 0.15 percentage points to 0.25 percent. The euro firmed after the European Central Bank took another small step to roll back crisis-era stimulus.

The Bank of Japan will wrap up a bumper week for major central banks later on Friday. It is set to keep monetary policy ultra-loose but may dial back emergency pandemic funding.

Share markets have failed to find a clear direction since the Fed meeting. Overnight the Nasdaq ended sharply lower as investors moved away from growth stocks like big tech and towards value names.

MSCI's broadest index of Asia-Pacific shares outside Japan declined 0.8 percent. Japan's Nikkei declined over 1.2 percent. US stock futures, the S&P 500 e-minis, were down over 0.1 percent.

Oil prices slid in early Friday trading after rising 2 percent the day before. Brent crude fell to $74.44 a barrel and US crude declined to $71.78 a barrel. Spot gold was little changes, off 0.07 percent at $1,797 an ounce.

(With inputs from Reuters)