Mumbai, Dec 29 (IANS): Lack of investors' participation, coupled with the absence of any fresh triggers and profit bookings, subdued Indian equity markets during the mid-afternoon trade session on Tuesday.

This led a barometer index of the Indian equity markets to trade flat during the mid-afternoon trade session.

Initially both the bellwether indices of the Indian equity markets rose in-sync with their Asian peers.

In addition, markets' maintained their Monday's gains which were made on the back of Prime Minister Narendra Modi's new initiative of "Start-up India Stand-up India" which has been lined up for next month's launch.

However, markets soon ceded their gains, as lack of investors' participation and absence of any triggers depressed sentiments and prompted some investors to book profits.

Latest data with the stock exchanges showed that the volumes in cash markets across key bellwether indices eased to Rs.16,000 crore in the last couple of trading sessions.

Besides, investors were seen cautious regarding the upcoming third quarter earnings season.

The barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) was trading marginally higher by 18.51 points, or 0.07 percent, during the mid-afternoon session.

Notwithstanding, the wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading in the red. It was marginally lower by 8.20 points, or 0.10 percent, at 7,916.95 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 26,075.68 points, was trading at 26,052.64 points (at 1.35 p.m.) -- up 18.51 points, or 0.07 percent, from the previous day's close at 26,034.13 points.

The Sensex has so far touched a high of 26,133.78 points and a low of 25,994.45 points during the intra-day trade.

The Sensex had closed the previous session on December 28 with gains of over 195 points, or 0.76 percent, whereas the Nifty was higher by 64.10 points, or 0.82 percent.