The BSE Sensex and the broader Nifty are trading flat on caution ahead of the expiry of October derivatives contracts at the end of the session.
The Sensex is down 0.05 percent a day after marking its record closing high, while the Nifty is down 0.1 percent.
Still, domestic shares are headed towards their highest monthly close on strong foreign investor flows. The BSE index is up 8.5 percent in October, also heading towards its biggest monthly gain since January 2012.
Foreign investors were net buyers for a 19th consecutive session on Wednesday, bringing their total buying to nearly 160 billion rupees during that period.
Dr.Reddy's Laboratories Ltd falls 1.3 percent on profit-taking after hitting a record high of 2,545.15 rupees in early trade. Infosys Ltd falls 0.4 percent after the company agreed on Wednesday to pay $34 million to end a U.S. investigation related to the widespread practice by Indian firms of flying workers to client sites in the United States on temporary visas.
However, Bharti Airtel Ltd gains 1.1 percent, adding to Wednesday's 5.5 percent rise after its September-quarter operating margin grew 32 percent.
Bank of India Ltd gains 1.3 percent, while Bank of Baroda Ltd is up 0.5 percent, ahead of their July-September earnings later in the day.