Investors turned cautious ahead of the Lok Sabha election results due on May 16 as the benchmark Sensex seemed to be consolidating at the 12,000 level and was quoted slightly lower by in late morning trade on Friday.
The Bombay Stock Exchange 30-share barometer moved in a narrow range of 12,180.07-12,079.09 points before being quoted at 12,091.10 at 1100 hrs, a fall of 25.84 points over its previous close.
Yesterday, the bellwether index had gained 164.19 points or 1.37 per cent.
The 50-issue Nifty of the National Stock Exchange, was quoting slightly changed at 3,683.60 from its last close of 3,683.90 points.
Asian indices, however, were trading slightly better while the Dow Jones Industrial Average and the Nasdaq Composite index dropped on Wall Street yesterday after "stress tests" on US banks offered few surprises.
Asian markets such as Singapore was up by 1.24 per cent, Japan by 0.28 per cent, Hong Kong by 0.13 per cent and South Korea by 0.05 per cent while Taiwan was down by 0.33 per cent.
On Wall Street, the Dow Jones Industrial Average and the Nasdaq Composite Index ended lower by 1.20 per cent and 2.44 per cent last night.
Foreign Institutional Investors (FIIs) remained net buyers and they picked up shares to the tune of Rs 388.33 crore on May 7 as per provisional data.