Indian equities have been rather quiet today morning, as against the firmness seen since the Budget session.

"Our stock markets maintained their growing streak by climbing 1.5% yesterday. Sensex regained the 17000 mark after 21st January while Nifty ended at 5088. The benchmark has gained 4.7% in 3 sessions. FIIs bought worth Rs 959 crore. in cash and 2937 cr in F & O.

While there is nothing to suggest that the rally has weakened, some sort of profit booking is not ruled out after the sharp rise seen over past 3 sessions. 4950, which acted as a resistance earlier, would now act as a strong support on any fall. On the upside the meaningful resistance comes only in 5170-5240 region," said Anagram Stock Broking note.

At 9.57 a. m. the 30-share index BSE Sensex, which belled the day at 17,013.68 points, stood at 16,962.64, down 37.37 points as against its last closure at 17,000.01 points.

In contrast, the broad-based Nifty was ruling at 5,067.3 as compared to its last close at 5,088.1 points, a loss of 0.41%.

The BSE midcap index gained 0.58% and the BSE small cap index surged 0.47%. (With Input from Agencies)