According to official data released on Monday, India's WPI inflation softened to 2.47 per cent in March from a rise of 2.48 per cent reported for February and an acceleration of 5.11 per cent in the corresponding month of past year.
The benchmark BSE Sensex was trading 50 points, or 0.15% lower on Monday morning, recovering from its sharp losses in opening trade which saw the gauge plunge by almost 300 points, amid weak Asian cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.
The 30-share index was trading lower by 77.41 points, or 0.23 per cent, at 34,115.24 at 1200 hrs, led by selling on IT, energy, consumer durables, telecom, auto, banking, oil & gas counters.
BSE Sensex zoomed over 112.78 points at 34,305.43 and the NSE Nifty climbed 47.75 points to 10,528.35. Nasdaq and S&P 500 was also down by 0.47 percent and 0.29 percent respectively.
Titan, SBI and Wipro declined 1-2 percent.
On the other hand, healthcare index gained 0.75%, FMCG 0.49%, realty 0.4% and capital goods 0.36%.
The Sensex touched a high of 34,341.46 points and a low of 33,899.34 points during the intra-day trade.
Other major losers were Tata Motors, Axis Bank, Tata Steel, ONGC, Reliance, and Bharti Airtel, falling by up to 2.71%.
NTPC, UPL, Hero MotoCorp, Grasim and Cipla climbed 2-5 percent in the Nifty pack, while Tata Motors slumped 4.8 percent on reports that its JLR unit is planning to cut costs.
The rupee fell 20 paise against the USA dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.