Thursday's decline was due to profit booking by investors after sizable gains earlier in the week.

 

At 09.37 a.m., Sensex traded at 58,790 points, Nifty at 17,565 points, both largely steady from the previous close.

 

The ONGC, Tata Steel, Hindalo, JSW Steel, and Grasim Industries were among the top gainers, while Titan, Hero Motocorp, Tata Consumers, Eicher Motors, and Bajaj Auto were the top losers, NSE data showed.

 

"The best short-term strategy under these uncertain and volatile times is to wait and watch for clarity to emerge. Also, dips can be used to buy high quality stocks with earnings visibility across sectors, preferably financials and IT," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.