Mumbai, Jul 20 (IANS): A benchmark index for Indian equities markets gave up its early gains to rule lower as traders booked profits amid some lacklustre quarterly results, including those from software bellwether Wipro.

Wipro's stock fell about five percent to an intra-day low of Rs.395.40 after the company announced that net profit for the quarter ended June 30 grew only by a modest 1.2 percent.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,756.31 points, was ruling at 18,677.65 points, up 23.78 points or 0.13 percent compared to its previous close at 18,653.87 points.

The 50-scrip S&P CNX Nifty of the National Stock Exchange was also trading lacklustre at 5,621.75 points, up 0.15 percent.

Broader markets saw moderate gains. The BSE midcap index rose 0.04 percent and the BSE smallcap index was up 0.54 percent.

The market breadth at the BSE was still tilted towards the positive with 1,447 stocks advancing, 1,171 on the decline and 130 remaining unchanged.

FMCG and realty stocks were on the rise, while power and IT stocks came under selling pressure.

Asian markets were mostly ruling higher, tracking overnight gains at US bourses on news that policymakers in the world's largest economy were close to an agreement on raising the debt ceiling.

The Japanese Nikkei closed Wednesday closed 1.17 percent up at 10,005.9 points.

The Hang Seng of the Hong Kong stock exchange was ruling 0.46 percent higher at 20,003.53 points, while the Chinese Shanghai composite index was down 0.28 percent at 2,789.12 points.