The Indian equity market started Wednesday’s trade on a sombre note, tracking mixed set of global cues amid lingering fears of slowdown. Benchmark indices traded volatile after a weak start with the Sensex down by a point at 36,443 at 9.46 am. The Nifty was mildly up by 7 points at 10,929.

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HDFC, Infosys, Kotak Bank, TCS, HDFC Bank were the main laggards on indexes, while support for the bulls came from ICICI Bank, Hindustan Unilever and Reliance Industries.

The BSE index started more than 20 points lower, or 0.06 percent, at 36,424 in initial trade. The NSE index started above 10,900, lower by just 4 points, or 0.04 percent, at 10,918.70.

Broader markets outperformed with the Nifty MidCap starting up by 0.12 percent. At 9.45 am, both the Nifty MidCap and BSE MidCap traded higher by 0.47 percent and 0.37 percent, respectively.

Among shares, Yes Bank surged 1.43 percent, while Zee Entertainment was up by a percent. Yes Bank will declare its third quarter results on Thursday.

Wipro, Indiabulls Housing Finance and BPCL gained nearly a percent.

Metal stocks recovered after yesterday's losses with buying seen in JSW Steel, Tata Steel, Hindalco and Vedanta. The stocks surged between 1.3 percent and 2.4 percent.

Among losers, Infosys shares slipped 0.91 percent likely on profit-booking, while Tata Consultancy Services, M&M, Kotak Bank and Tata Motors declined between 0.39 percent and 0.57 percent.

Sun Pharma stocks slipped after the pharma company informed exchanges that it has received two queries from the market regulator Sebi over corporate governance issues at the firm.

The rupee opened stronger at 71.09 against the US dollar on Monday on the back of weakness in the US dollar. The home currency had settled at 71.44 against the greenback on Tuesday.

Asian shares traded with minor gains with Japan's Nikkei up by 0.14 percent and Hong Kong's Hang Seng by 0.10 percent. South Korea's Kospi outperformed, rising by 0.31 percent.